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ARTICLE · 03 MAY 2024

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Australia kicks off 2nd consultation on AML/CTF reforms

Piper Alderman
Piper Alderman
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Piper Alderman

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The proposed reforms mark a significant expansion of the scope of the existing AML/CTF regime.

AustraliaGovernment, Public Sector
Michael Bacina
Michael Bacina
Steven Pettigrove
Steven Pettigrove
Kelly Kim
Kelly Kim
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Michael Bacina, Steven Pettigrove and Kelly Kim of the Piper Alderman Blockchain Group bring you the latest legal, regulatory and project updates in Blockchain and Digital Law.

Earlier today, the Attorney-General's Department announced the commencement of a second round of consultations on reforms to Australia's anti-money laundering and counter-terrorism financing (AML/CTF) regime. The consultation follows an initial consultation commenced in April 2023, and proposes detailed reforms based on feedback received to date. The proposed reforms are intended to simplify Australia's AML/CTF regime, while expanding it to cover a wider range of businesses and virtual asset service providers.

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