Our latest insights

Australia's amended AML/CTF Act introduces an outcome-based framework, focusing on achieving effective results in combating money laundering and terrorism financing (ML/TF) rather than just adhering to prescriptive rules. This approach aligns with international standards set by the Financial Action Task Force (FATF).

Money Laundering / Terrorism Financing (ML/TF) risk assessment is a process of identifying, assessing, and understanding the risks of money laundering and terrorist financing (ML/TF) that an organisation may face. It involves evaluating various factors to determine the level of risk and the implementation of appropriate measures to mitigate those risks.

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.

In the latest episode of Beyond the Numbers with Grant Thornton, our Brisbane Office Chair and Tax Partner Sian Sinclair and Risk Consulting Partner Jarrod Lean discuss opportunities, challenges, procurement risks and strategies.

In this episode, Director of Operations at Walk Free, Katharine Bryant, discusses the rising wave of socially responsible generations wanting to make a difference, the methodology behind the Global Slavery Index as well as the challenges in collecting data, and what more can be done to eradicate modern slavery.

Employee fraud can be perpetrated through the misappropriation of assets and/or financial statement misstatement.

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.

Workplace fraud is a serious and costly issue that can impact organisations across different sectors and regions – and is becoming increasingly relevant as cost-of-living pressures rise.

To minimise the impact of fraud in Australia and globally, we are promoting anti-fraud awareness and education with a series of articles during International Fraud Awareness Week. This article is the first in our series and takes a closer look at the most commonly experienced types of fraud, the warning signs, and fraud detection.

In this episode of Navigating the New Normal, Katherine Shamai, Partner in the Risk Consulting team unpacks what modern slavery is and what businesses are required to report in Australia.