Where this law came from · Episode 2
There is a reason lawyers, accountants, real estate agents and dealers were all brought in together. Internationally, they share a name — and it explains everything about why you are here. Gatekeepers.
A global category
For decades, criminals learned that the easiest way to move dirty money wasn't through a bank. It was through the professionals who help move houses, set up companies, and handle client money. So FATF gave them a category.
… apply to designated non-financial businesses and professions (DNFBPs) … (b) Real estate agents — when they are involved in transactions for their client concerning the buying and selling of real estate. (c) Dealers in precious metals and dealers in precious stones … (d) Lawyers, notaries, other independent legal professionals and accountants …
The gatekeepers to the system
The idea is simple. You stand at the gates of the financial system. A criminal needs you — to buy the house, form the company, move the money — far more than they need a bank teller. So the standard asks the gatekeepers to watch.
So you were not singled out by Australia. You were recognised by the world — and the Australian Bill uses the very same word. Gatekeeper. It is not an insult. It is your position in the system.
Gatekeeper professions. Named by FATF, echoed by our Parliament. Understand that one word, and you understand why this law found you.