- Date
-
11 Sep 2024
- Chamber
-
House of Representatives
- Status
-
Before Senate
-
Portfolio
-
Attorney-General
- Summary
-
Amends the
Anti-Money Laundering and Counter-Terrorism Financing Act 2006
to: extend the anti-money laundering and counter-terrorism financing (AML/CTF) regime to additional services that are recognised by the Financial Action Task Force as posing high money laundering and terrorism financing risks; reframe and clarify the AML/CTF program and customer due diligence obligations; enable the Australian Transaction Reports and Analysis Centre to require the disclosure of information and conduct examinations; and update the AML/CTF regime to reflect changing business structures, technologies and illicit financing methodologies; and make consequential amendments. Also makes consequential or contingent amendments to 10 other Acts; and repeals the Financial Transaction Reports Act 1988
.