FinCrimeTV AML Special

In this FinCrime TV AML special we dive into the significant reforms proposed for Australia’s anti-money laundering (AML) and counter-terrorism financing (CTF) regime.

Following feedback from an initial consultation, the Attorney-General announced the second stage on May 2nd 2024. Earlier this year, the Financial Action Task Force rated Australia as non-compliant in several key areas, prompting these broader (overdue) reforms.

Key changes include integrating real estate professionals, lawyers, and accountants into the AML/CTF regime, along with regulating dealers in precious metals and stones, and digital currency exchanges.

The reforms also streamline AML/CTF programs and introduce new measures for serious offence investigations and compliance requirements.