The reforms to the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) will commence on:
In May 2025, AUSTRAC accepted material deviations to the Bank of Queensland Limited’s (BOQ) remedial action plan to support BOQ’s commitment to meet their AML/CTF obligations under the existing and new AML/CTF Act and Rules.
The Financial Action Task Force (FATF), the global group that sets international anti-money laundering, counter-terrorism financing and counter-proliferation financing (AML/CTF/CPF) standards, has published two recent updates relating to international money laundering, terrorism financing and proliferation financing (ML/TF/PF) risk.
I've come to the role of AUSTRAC CEO at a momentous time for AML/CTF regulation. We’re about to embark on the most ambitious overhaul of Australia’s anti-money laundering laws in a generation.
Today, I want to talk about the future of Australia’s Anti-Money Laundering and Counter-Terrorism Financing regime - reforms that go beyond meeting international standards and that focus us on a regime dedicated to reducing financial crime.
AUSTRAC has refused to renew a crypto ATM operator’s registration and placed operating conditions, including transaction limits, on other Australian crypto ATM providers.
The conditions come after an AUSTRAC taskforce flagged worrying trends in crypto ATM compliance.
AUSTRAC has instructed The Ville Resort-Casino in Townsville and Mindil Beach Casino Resort in Darwin to appoint external auditors to assess their AML/CTF compliance.
The actions were taken after AUSTRAC identified potential gaps and deficiencies in AML/CTF controls, risk and oversight.
A 2018 tip off from Luxembourg authorities sparked an investigation into a Queensland man with a history of hacking and led to the restraint of assets totalling $4.5m in today’s market value.
The assets were suspected to be the proceeds of crime and included a waterfront home in Queensland, a black Mercedes Benz and almost 25 bitcoin.