Anti-money laundering legislation raises concerns
Today Federal Cabinet has been discussing when it will introduce a piece of legislation that aims to crack down on those involved in money laundering and the financing of terrorism. The legislation, which is expected to hit parliament in the current spring session, has maintained a low profile, compared with other pieces of counter-terror law. But civil libertarians say they have some real concerns about the impact that the legislation could have on the privacy of bank customers. The legislation will require financial institution to report suspicious transactions to money laundering government body AUSTRACK. But there are concerns that it will also provide exemptions from the anti-discrimination act, allowing bankers to discriminate against Muslims. Dr Joo Cheong Tham, Senior Lecturer in law At Melbourne University and the author of Liberty Victoria’s submission on the legislation.