Tranche 2 Legislation

The new AML/CTF laws represent a big step forward in combating financial crime and terrorism. While these new obligations will pose some challenges to professionals like lawyers, accountants, real estate agents, and conveyancers, they also provide an opportunity for them to enhance their integrity, safeguard their industries from illicit activities, and strengthen Australia’s financial system. The reforms also aim to reduce the complexity and regulatory burden of AML and CTF, ensure Australia’s AML/CTF regime is fit for purpose, and insulate Australian businesses against exploitation by organised crime.

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