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Anti-Money Laundering and Counter-Terrorism Financing Hub

Understand the reforms to Australia's Anti-Money Laundering regime.

Home Anti-Money Laundering and Counter-Terrorism Financing Hub

Ensure your business is meeting Australia’s new Anti-Money Laundering  and Counter Terrorism Financing (AML/CTF) obligations.

In November 2024, reforms to the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (the Act) were passed by the Australian Parliament. The reforms, which come into effect in 2026, aim to simplify the regulatory framework, enhance compliance, and protect businesses from criminal exploitation. They have been made to ensure Australia can effectively deter, detect, and disrupt money laundering and terrorism financing and bring Australia in line with standards recommended by global body, the Financial Action Task Force. 

The Act has introduced several key changes for both existing entities (Tranche 1), as well as new (Tranche 2) entities. Tranche 2 entities include real estate professionals - such as real estate agents, buyers agents and property developers; professional service providers - such as lawyers, accountants, conveyancers and trust company service providers; and dealers in precious stones, metals and products.

Key changes include:

  • Simplification and Clarification: The reforms aim to simplify and clarify the AML/CTF requirements, making it easier for businesses to comply while effectively preventing financial crimes
  • Expansion of Regulated Services: The AML/CTF regime now includes additional high-risk services provided by Tranche 2 entities such as real estate professionals, lawyers, accountants, conveyancers and dealers in precious stones and metals
  • Modernisation of Digital Currency Regulation: Enhanced regulations for digital currency and virtual asset service providers
For more information on the impact for Tranche 1 and Tranche 2 entities, please see below.

 
AML/CTF for existing entities

AML/CTF for existing entities

Understand your obligations and the key areas of change under AML/CTF laws in order to strengthen your AML/CTF compliance strategy.

Learn more
AML/CTF for new entities

AML/CTF for new entities

Understand what AML/CTF laws mean for new Tranche 2 entities - your guide to navigating AML/CTF regulations for the first time.

Learn more


How we can help you

KordaMentha is proud to have played an active role in contributing to AML/CTF reforms through multiple consultation submissions and as the only representative from the advisory and consulting sector invited to provide evidence at the Senate committee hearing in 2024. 

We have worked extensively with our clients to understand and share both their concerns as well as our expertise to contribute to a framework that enhances Australia’s ability to deter, detect and disrupt illicit financing, and protect Australian businesses from criminal exploitation.    

We are Australia’s preeminent financial crime risk and advisory team with expertise built from working in, regulating, and consulting to all sectors. We are experienced in the impact of major reforms, through both the Tranche 1 reforms in Australia as well as the Tranche 2 reforms in New Zealand. Our roadmap to being ‘reform ready’ offers a streamlined approach that enables you to meet both legislative requirements and regulatory expectations, setting  you on a path for future compliance.  

 



 

Guidance

Guide you through the impacts and adapt your business processes to meet new AML/CTF compliance requirements. We can also assist you in preparing for upcoming changes to both existing and new obligations.

Preparation

Conduct ML/TF Risk Assessments to identify and assess risks, ensuring you have the necessary documentation and understanding of your risk.

Assessment

Develop tailored AML/CTF programs and other essential documents to enable you to comply with the new requirements.

Development

Support you in putting in place appropriate risk based AML/CTF systems and controls across your business.

Implementation

Deliver bespoke AML training via our KordaMentha Financial Crime Training Academy.

Meet our experts

Rachel Waldren

Rachel Waldren

Partner|Financial Crime|

Melbourne

+61 3 8623 3441
Alice Saveneh-Murray

Alice Saveneh-Murray

Partner|Financial Crime, Implementation Services|

Melbourne

+61 3 8623 3433
Richard Lee

Richard Lee

Executive Director|Financial Crime|

Melbourne

+61 3 9908 8936
Grace Mason

Grace Mason

Partner|Financial Crime|

Sydney

+61 2 8257 3039
Gail Carter

Gail Carter

Executive Director|Financial Crime|

Sydney

+61 2 8934 3181

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