Reforms to Australia's AML/CTF regime have been passed and
will for the most part commence in 2026. For existing reporting
entities, the reforms and the new AML/CTF Rules (currently in
draft) introduce changes to various AML/CTF obligations and
requirements contained in the current AML/CTF Act 2006.
While many of these changes do not start until 31 March 2026,
existing reporting entities should become familiar with these
changes by reviewing the draft rules so that they are on track to
implement them when they are finalised. This will help ensure they
continue to stay compliant with the AML/CTF regime in its next
iteration.
AML/CTF Programs
Under the reforms, an AML/CTF Program no longer needs to be
separated into Part A and Part B. A reporting entity can choose how
it wants to structure their AML/CTF Program, so long as the AML/CTF
Program documents the reporting entity's:
