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Legislation to strengthen Australia’s anti-money laundering and counter-terrorism financing regime has passed Parliament

News Anti-money laundering Law & Policy Updates
Date: 28th Nov, 2024 Source: Australian Transaction Reports and Analysis Centre (AUSTRAC) Country: Australia Original Source

Brief

"On November 29, 2024, the Australian Transaction Reports and Analysis Centre (AUSTRAC) issued an update regarding Legislation to strengthen Australia’s anti-money laundering and counter-terrorism financing regime has passed Parliament. The Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Amendment Bill 2024 simplifies, clarifies, and modernizes the AML/CTF regime, expanding it to certain high-risk services provided by lawyers, accountants, and real estate professionals. This will enhance the effectiveness of the regime in detecting and disrupting financial crime."

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Australian Transaction Reports and Analysis Centre (AUSTRAC)

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