AML/CTF Regulatory Round Up – June 2024

06 June 2024

This year has seen a number of developments in Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) regulatory landscape.

We explore these developments and more in this AML/CTF regulatory round up. In this edition, we cover:

  • The second stage of consultation on the AML/CTF reforms:
    • Part 1: Incorporation of Tranche 2 entities (click here to read);
    • Part 2: Further details released on proposed reforms to simplify, clarify, and modernise Australia’s AML/CTF regime (click here to read);
  • AUSTRAC’s draft guidance around outsourcing arrangements released for consultation (click here to read);
  • An update about recent and ongoing enforcement activity (click here to read); and
  • A summary of AUSTRAC’s regulatory priorities for 2024 (click here to read).

If you have any queries or need any assistance in relation to the AML/CTF reforms, compliance or any issues more generally, please contact a member of our team.

This newsletter was written by Polat Siva, Partner, Neil Perl, Special Counsel, Vesa Prekazi, Special Counsel, Gabriel Hawkins, Associate, Rebecca Young, Associate.

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