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Australia’s AML/CTF reforms represent a fundamental shift from a prescriptive, compliance-based regime to a flexible, outcomes-focused framework – prioritising the effective prevention of money laundering, terrorism financing and proliferation financing, rather than merely following prescriptive rules.

Australia has commenced reforming its Anti-Money Laundering and Counter-Terrorist Financing (AML/CTF) regime including the ‘Tranche 2’ reforms, which expand AML/CTF compliance to apply to additional professions including lawyers.

Australia has commenced reforming its Anti-Money Laundering and Counter-Terrorist Financing (AML/CTF) regime including the ‘Tranche 2’ reforms, which expand AML/CTF compliance to apply to additional professions including real estate agents and conveyancers.

The final amendments to the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Rules, published on 30 August 2025, introduce a series of structural and operational changes following extensive consultation by AUSTRAC and industry feedback.

Embed ESG risks into strategy and culture to drive sustainability beyond compliance.

The AML/CTF Reforms require reporting entities to develop and maintain AML/CTF policies that achieve both ML/TF/PF risk mitigation and management as well as AML/CTF compliance.

ASIC’s review of 50 responsible entities revealed outdated and incomplete compliance plans – some missing key regulatory obligations like DDO and IDR entirely. With investigations now underway, responsible entities must act.

In today’s fast-moving business landscape, Boards must take a strategic approach to governance. This article explores key priorities including regulatory compliance, cyber and AI risk, operational resilience, and navigating market volatility.

ADIs are navigating regulatory reform, digital transformation, and rising fraud risks by strengthening governance, modernising infrastructure, and aligning strategy with compliance to drive resilience and long-term value.

Last week, the Australian Securities and Investments Commission (ASIC) released a report highlighting issues with the superannuation industry's handling of death benefit claims and the impact these have on grieving Australians.

While APRA has acknowledged the achievements of member-owned and not-for-profit funds to-date, it also noted Boards must do more to ensure long-term sustainability of their organisations.

The revised Australian AML/CTF Act 2024 introduces the concept of value transfer chains to enhance transparency and traceability in value transfers, including money, virtual assets, and property.