Adopting an outcome-based framework for AML/CTF

INSIGHT | EXISTING ENTITIES

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).

Neil Jeans
Katherine Shamai
Martin Stone
Annelies Homersham
| 8 min read | 18 Feb 2025

Key Roles in AML/CTF governance

INSIGHT | EXISTING ENTITIES

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.

Neil Jeans
Katherine Shamai
Martin Stone
Annelies Homersham
| 11 min read | 04 Feb 2025

AML/CTF Amendment Bill 2026: What may change and the implication for reporting entities

Insight

The AML/CTF Amendment Bill 2026 gives AUSTRAC new powers to restrict or prohibit the use of high‑risk mechanisms such as crypto ATMs by reporting entities.

Neil Jeans
Martin Stone
Alan Connor
| 4 min read | 15 Apr 2026

Know Your Customer: From simplicity comes complexity

Insight

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.

Neil Jeans
Katherine Shamai
Martin Stone
Richard Storey
Annelies Homersham
| 6 min read | 15 Sep 2025

Eight key changes to the new AML/CTF Rules for existing entities

Client Alert

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.

Neil Jeans
| 5 min read | 05 Sep 2025

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