Status
Open for submissions
Submission deadline

The Attorney General’s Department (AGD) has launched the second stage consultation on proposed reforms to Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) regime. This includes the release of the second series of consultation papers, which outline detailed proposals for reforming the AML/CTF regime. These papers were developed following feedback from the first round of consultation, which ran from April to June 2023. 

The first round of consultation identified broad support for the reforms, and submissions reflected the diversity in the affected sectors. They provided important insights into how to improve the AML/CTF regime so it remains fit-for-purpose and maintains pace with the emerging threat environment. AGD used the feedback from the first round of consultation to develop the detailed reform proposals outlined in the following second stage consultation papers: 

  • Reforming Australia’s anti-money laundering and counter-terrorism financing regime - Overview
  • Paper 1: Further information for real estate professionals
  • Paper 2: Further information for professional service providers
  • Paper 3: Further information for dealers in precious metals and precious stones
  • Paper 4: Further information for digital currency exchange providers (DCEPs), remittance service providers and financial institutions
  • Paper 5: Broader reforms to simplify, clarify and modernise the regime (which will apply to current and new proposed reporting entities)

AGD is seeking feedback from both current and proposed new reporting entities on the reforms by 5:00 pm AEST Thursday 13 June 2024. 

To make a submission and find more about the reforms and the consultation process, visit the AGD website.