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ARTICLE · 11 NOVEMBER 2024

Navigating the Upcoming AML Changes: A Guide for Criminal Defence Lawyers

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For criminal defence lawyers, tightening your Anti-Money Laundering (AML) processes is paramount.

AustraliaAntitrust/Competition Law
Andrew George
Andrew George
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On 11 September 2024, the Government introduced the Anti-Money Laundering and Counter-Terrorism Financing Amendment Bill 2024 (AML Bill) into Parliament.

The proposed start date for several of the key reforms is 31 March 2026.

This might feel like we have a lot of time to prepare. But let's be honest: the year is already flying by, and it's crucial we don't wait until the last minute to get our practices ready.

So, what does this mean?

For criminal defence lawyers, tightening your Anti-Money Laundering (AML) processes is paramount. If your practice operates under a corporate structure, training directors and key staff members on AML issues is crucial. And for those in partnerships or unincorporated practices, make sure your partners and practice managers are well-informed.

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