APAC · Australia AUSTRAC
Australia's AML/CTF Act 2006 (as amended by Amendment Act 2024)
Primary LegislationIn Force
- Issuing authority
- AUSTRAC civil penalties up to A$22.2M; criminal penalties available
- Effective date
- Amendment Act passed November 2024; Tranche 1 changes effective 31 March 2026; Tranche 2 effective 1 July 2026
- Scope
- AUSTRAC civil penalties up to A$22.2M; criminal penalties available
Key requirements
Australia's main AML law going through its biggest expansion ever. From 31 March 2026 (Tranche 1): updated rules for crypto exchanges and existing reporting entities. From 1 July 2026 (Tranche 2): lawyers, accountants, real estate agents, conveyancers, trust and company service providers, and dealers in precious metals come under AUSTRAC supervision for the first time. Existing requirements: threshold transaction reports for A$10K+, International Funds Transfer Instruction reports, Suspicious Matter Reports.
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