Some “fun” reading from austrac and friends https://www.austrac.gov.au/sites/default/files/2019-07/sa-br...

“Shockingly” real estate agents and solicitors arent covered by AML/KYC here. I believe the same problems with opaque beneficial ownership extends to trusts as well. Other countries have similar challenges, but at least theres some duty to report etc.

  Criminals may be drawn to real estate as a channel to launder illicit funds due to the:
  » ability to buy real estate using cash
  » ability to disguise the ultimate beneficial ownership of real estate
  » relative stability and reliability of real estate investment
  » ability to renovate and improve real estate, thereby increasing the value. Criminals are also motivated to buy property for further profit or lifestyle reasons.
  Compared to other methods, money laundering through real estate – both residential and commercial – can be relatively uncomplicated, requiring little planning or expertise. Large sums of illicit funds can be concealed and integrated into the legitimate economy through real estate.