Our latest insights

Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) program is crucial for organisations to comply with AML/CTF obligations and requirements. Under the AML/CTF Act 2006, all reporting entities must establish and maintain an AML/CTF program that identifies, mitigates, and manages their money laundering and terrorism financing (ML/TF) risks, and addresses the AML/CTF system and control requirements set out in the AML/CTF Rules.

Explore the key roles and responsibilities in AML/CTF governance, including the involvement of the Board, senior management, and compliance officers. Understand the amended AML/CTF Act 2024 requirements, risk management strategies, and the importance of fostering a culture of compliance within organizations.

The Australian Government has allocated $167.8m in the Federal Budget to support the implementation of the wide-ranging reforms to the anti-money laundering and counter-terrorism financing (AML/CTF) regime.

In the latest episode of Beyond the Numbers with Grant Thornton, Neil Jeans, Risk Consulting Partner who specialises in financial crime risk management, discusses the current state of Tranche 2 AML reforms in Australia.

CFOs have a pivotal role in preventing and mitigating fraud risks within organisations. They should establish a strong governance framework promoting ethical behaviour, transparency, and accountability. Collaborating with technology leaders, CFOs can implement anti-fraud technology, stress-testing measures, and anti-money laundering controls. Maintaining an ethical culture through awareness, education, and reporting mechanisms is crucial.

We recently sat down with NSW Club leaders to discuss Environmental, Social, and Governance (ESG) considerations on the Club industry in the short to medium term. The International Sustainability Standards Board (ISSB) has now released their standard on Sustainability, and Treasury has sent a draft policy on how the standards will be adopted in Australia. Although there is no set guidance at this stage, it is most likely Clubs will need to adopt this standard in FY26.

The current cost of living crisis compounded with salaries not keeping up with inflation has created a climate in which the fraud triangle can emerge. Internal Audit programs are a valuable tool that can be used to assess and report this.

Australia has commenced its implementation of Tranche 2 Anti-Money Laundering (AML) and Counter Terrorism Financing (CTF) reforms, presenting an opportunity to shape the scope and nature of obligations for your industry.

In this podcast, Grant Thornton Risk Consulting partner Katherine Shamai discusses what it means to be a good corporate citizen, how COVID has moved the conversation along, and the long term risks to brand and stakeholders of getting it wrong.