AML/CTF AUSTRALIA: AUSTRAC’s regulatory reach has been extended.  Australia’s Anti-Money Laundering and Counter-Terrorism Financing Act  is now regulating the real estate sector, the legal sector and accountancy.  These new laws were introduced to Australia on 29 November 2024.  Though not yet implemented, businesses captured by these AML/CTF laws need to start preparing operational and internal systems to meet AML/CTF regulatory expectation.

When the implementation date is reached, theseTranche 2 Entities must ensure they are operating with effective risk assessments, policies, procedures and controls.  

One of the first and most important steps of meeting AML/CTF regulatory expectation is to complete an adequate AML/CTF firm-wide risk assessment.

An inadequate AML/CTF risk assessment is one of the most common ways for businesses to find themselves under the unwanted regulatory radar.

AML360 Regulatory Technology provides Australian businesses with an affordable and effective AML/CTF compliance solution.

Businesses can easily embed a proven technology solution into Part A of the AML/CTF Program. Part A requires the ML/TF risk assessment of your business or organisation. It needs to be regularly reviewed and updated.

Subscribe to AML360 and get confident that your business is meeting regulatory expectation by applying risk-based analysis to business obligations.