As we pass the midpoint of 2025, I’ve taken time to reflect on what we’ve accomplished together in our ongoing mission to protect the Australian community from financially enabled crime. From major reforms and regulatory transformation to intelligence-led disruption and stronger partnerships, it’s been a year of momentum and meaningful progress.

This year also marked AUSTRAC’s transition from the Attorney-General’s Department to the Department of Home Affairs portfolio. While our purpose remains unchanged, this shift reinforces our central role in safeguarding Australia’s national security and the integrity of our financial systems.

Driving reform and regulatory transformation

A major focus this year has been progressing the most significant overhaul of Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) regime in a generation. Enabled by the passage of the AML/CTF Amendment Bill 2024 in November 2024, the reforms modernise our regulatory framework to align with global standards and expand coverage to include business that provide designated services including as real estate professionals, lawyers, accountants, conveyancers and dealers in precious metals and stones.

To support both current and newly regulated entities, AUSTRAC has released our regulatory expectations and priorities for 2025–26. These clearly outline what businesses should do to prepare for the reforms, and how AUSTRAC will support them. Our 7 regulatory priorities outline where we will focus our regulatory effort over the next 12 months – primarily on areas of significant money laundering risk.

We are also modernising how we regulate. Our new approach shifts the focus from assessing compliance of individual entities to driving change across entire sectors. In high-risk sectors, we are moving beyond traditional expectations and taking a more directive approach. We are identifying key risks and setting minimum standards to ensure they are addressed.

AUSTRAC is working closely with industry to co-design core and sector-specific guidance materials. We are developing practical resources, including new guidance, starter kits and education initiatives, tailored to help entities understand and meet their new obligations. These will be available by the end of 2025. Our regulatory model remains risk-based, transparent and aligned with the objectives of the amended AML/CTF Act.

Additional milestones include:

• Implementing changes to the ‘tipping off’ offence, which took effect on 31 March 2025, accompanied by updated guidance.
• Completing public consultation on the second exposure draft of the AML/CTF Rules, with final Rules expected in August 2025
• Delivering education programs, including recent webinars for current reporting entities and upcoming webinars for Tranche 2 entities to support sector readiness.

As we look ahead to 2026, we are committed to supporting businesses through implementation. For new reporting entities, we do not expect perfection on day one. Our focus is on helping businesses build foundational capabilities, such as staff training, AML programs and risk awareness, so they are ready to meet their obligations from 1 July 2026. 

For current reporting entities, AUSTRAC expects you to maintain strong AML/CTF controls, continue to actively manage your money laundering and terrorism financing risks, and take action now to strengthen your systems and processes in line with the reforms. If your systems are not effective or you are not meeting your obligations, now is the time to act.

Strengthening intelligence and disruption

Alongside reform, we have continued to strengthen our intelligence and enforcement capabilities to disrupt criminal threats.

A key achievement has been the expansion of the Fintel Alliance and its Collaborative Analytics Hub. This public–private partnership remains central to our intelligence strategy. We’ve increased staffing, broadened participation, and secured the secondment of a senior ANZ manager to help lead the program. The expansion of Fintel Alliance is a strategic investment in Australia’s long-term capability to anticipate and disrupt financial crime.

Beyond Fintel Alliance, we’ve delivered a range of intelligence-led initiatives, including:

• establishing the Cryptocurrency Taskforce, which conducted on-chain tracing and risk profiling of crypto ATM providers. This led to the introduction of new sector-wide compliance requirements including cash limits, scam warnings and enhanced due diligence
• contributing intelligence to a two-year law enforcement investigation into an alleged $190 million laundering operation involving cash-in-transit services
• expanding data partnerships and growing the new Data Division to explore opportunities to source and use external datasets to monitor emerging risks, including in the real estate sector
• ongoing assessments of emerging risks in unregulated sectors, including privately managed ATMs and bulk cash handling businesses.

Each of these initiatives reflects our commitment to using intelligence, data and collaboration to drive meaningful disruption and safeguard the financial system.

Looking ahead

These are just some of the achievements we’ve delivered in the first half of 2025. I’ve seen the power of what we can achieve when we are united in purpose, bold in strategy and clear in action.

We all have a role to play in protecting the Australian community from crime. Your role is essential. By staying vigilant and compliant, you help safeguard Australia’s financial system from abuse.

In the months ahead, we will continue to build momentum. A major focus will be preparing businesses for the new AML/CTF regime, including the release of core and industry-specific guidance materials. Our emphasis will remain on partnership, capability-building, and reducing the harm caused by financial crime.

Thank you for your continued dedication to protecting Australians and strengthening our financial system. I look forward to the progress we will make together in the months ahead.