The Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) covers AML in Australia. Tranche (Part) 1 was implemented immediately. Tranche 2, covering real estate agents (among others) was supposed to follow reasonably soon after. It's now been ~17 years and it's still not implemented. [1]
In those years, the Australian property market boomed and states like New South Wales with its Stamp Duty tax generated billions ($9.379 billion for the 2020-21 financial year) in revenue [2]