Ha, AUSTRAC is a complete joke, average punters don't give a toss about AML, they too busy paying their mortagages, enforcing AML just adds extra costs to the end customer but they get what they want.
Notice how the government puts more effort into regulating legal businesses that are victims of crimes within Australia rather than going after the actual criminals.
It's the same with state police, they'll go after regular people for low level speeding, low level drunk driving, use your phone while driving, use an air rifles to shoot your neighbours cat. But you call them up and say, I know where a bikie motorcycle gang is operating, they do nothing.
It seems to me that Australia's law enforcement is more focused on keeping regular people in line then what is to stop actual criminals.
If criminal gangs weren't operating within Australia there would be no need for KYC and AML. Australia has got to be one of the most corrupt countries in the world, corrupt at the very top.
As for PWC, good on them. The government gets enough of our taxes, why shouldn't a private company be able to advise other companies on how to avoid taxes? Especially when these taxes are just used to invest in public servants who's primary job is to develop more regulation, more control, more tax collection, more wealth redistribution.
You don't realise it, but you are the sort of person Ayn Rand warned against, begging for the government to interfer in the market, to tip the scales in your favour at the expense of real entrepenures and innovation. This sort of thinking is why Australia has no manufacturing, no innovation, just government handouts that temporarily prop up a grift under the guise of a new innovative industry, just look at renewables and other buzzword inustries.
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