Such a privilege to represent @TIAustralia on @BreakfastNews to talk about Australia's still lagging score - despite a 2 point increase - on the Corruption Perceptions Index to be 75/100 #CPI2022 @anticorruption

This morning we launched Australia's new #CPI2024 score with @MarkDreyfusKCMP. Australia has climbed to 77/100 and we are now in the top 10 best ranked countries. But more work remains—Australia must strengthen whistleblower protections, political financing and lobbying rules.

6/6 🔎Australia weak corporate transparency laws also enable corruption and money laundering to take place. To further safeguard Australia against money laundering and corruption, the parliament must pass strong beneficial ownership laws as promised by the Albanese government.

5/6 ⚔️ The generous carve-out for lawyers to claim legal professional privilege does create a risk of lawyers being the profession of choice for money launders and not reporting suspicious matters to AUSTRAC.

4/6 🚪The legislation closes a giant loophole in Australia’s efforts to combat dirty money and illicit financial flows. Australia was 1 of only 5 countries globally to not include these high-risk professions in the AML/CTF regimes and was at risk of being ‘grey listed’ by FATF

3/6 🤑These professions often enable either organised crime gangs to wash their money into Australia’s economy such as real-estate. These professions will now be required to undertake robust customer due diligence + report suspicious transactions to AUSTRAC.

2/6 🙏@TIAustralia congratulates the parliament for passing historic + long overdue AML/CTF Amendment Bill 2024 which now includes high-risk professions incl. real estate agents, lawyers, accountants, trust + company service providers, + dealers in precious stones + metals.

🧵1/6 🎆Another win for @TIAustralia in the fight against Kleptocrats, corrupt officials + organised crime gangs with new anti-money laundering / counter terrorism financing (AML/CTF) laws passing parliament last night💵 @anticorruption https://t.co/HEKd0xJk6z

6/6 The proposed caps will get some money out of the system + transparency measures are good 👿But the devil is in the 400 pages of detail. This warrants much close examination in the form of a senate inquiry ⚖️Good process in developing legislation is important for democracy

5/6 🔎20K donations caps for an individual recipient are ok but those donating to multiple candidates will have an annual $600K cap. So a bit of cash over three years to influence a candidate or party's views. ⏰3 pages of exemptions for gift also raise a few alarm bells

4/6 💸For example, major parties could thwart the $800K electorate expenditure cap by spending big on advertising for their party which comes under their $90 million national cap. Senate caps might also help major parties scale up campaign resources in marginal seats.

3/6 💰Proposed expenditure caps of $800,000 per electorate, $200,000 cap for Senate candidates, reducing the overall expenditure of political parties to $90 million per election sound reasonable. But major parties might still be able to game the system. @anticorruption

2/6 @TIAustralia first called for transparency changes federally after Queensland introduced similar laws almost 10 years ago. Proper scrutiny is required to avoid changes that favour incumbents + disadvantage challenges and minorities that are underrepresented in parliament.

🧵1/6 My op-ed in @canberratimes on electoral reforms: Money out of politics or a gift for major parties? Good news election donations will be disclosed on a "real-time" or monthly basis + all donations over $1000 would need to be disclosed. https://t.co/Q7141BdLRc

Joint statement from @TIAustralia @publicintegrity @theausinstitute and @ADN on the major loopholes in the Albanese government's proposed electoral reforms and need for major scrutiny as reported by @Paul_Karp 👉 https://t.co/47Uj44cfMr 👇

📢Joint statement by @cpi_aus and @TIAustralia on government's proposed electoral reforms. https://t.co/TkZC4kKN02

Clear eyed analysis by Professor AJ Brown chair of @TIAustralia on the NACC Inspector's report into the handling of #Robodebt referral.

Breaking: Northern Territory land council raided by ⁦@NACCgovau⁩ with the CEO sacked ⁦@TIAustralia⁩

📢Australian Federal Police drop lengthy foreign bribery investigation into Australian miner Sundance resources involving a mining license, the Congolese president, alleged bribes, shares, and a plan crash. Story via @sumeyyailanbey 👇 https://t.co/ojQMpNdpKj @TIAustralia

New evidence @guardian on the risk of money laundering in Australia's real-estate + the need for reforms. As I told @knausc "🇦🇺 is 1 of only 5 countries globally that does not include real estate agents, lawyers + accountants...in our AML/CTF regime" https://t.co/l7if55fgjN 👇

3/3 It includes a carve out for legal professional privilege + aligns with FAFT standards reducing the risk of being grey-listed. Grey-listed for Australia would mean a sledgehammer to our economy as grey-listed countries average a 7% drop GDP + 3% in foreign direct investment.