Laws which ban human rights abusers and cyber criminals from entering, trading in, and holding bank accounts in Australia are set to pass federal parliament.
Under these laws, known as ‘Magnitsky laws', the government can impose strict prohibitions on criminals seeking to use Australia for money laundering, seize their assets and ‘name and shame' them.
The Australian legislation is modelled on the United States' Magnitsky Act.
The law derives its name from United States prohibitions on the individuals responsible for the murder of Russian lawyer Sergei Magnitsky for exposing multi-billion dollar tax fraud committed by Russian autocrats, that pillages the nation's resources at the expense of its citizens.
