Consultation is open on proposed amendments to the Anti-Money Laundering and Counter-Terrorism Financing Rules Instrument 2007 (No.1) (the Rules).
On 29 November 2024, the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Amendment Act 2024 was passed.
This legislation will extend AML/CTF obligations to certain designated services offered by the legal profession from 31 March 2026. More information on the reforms is available on Proctor and at AUSTRAC’s website.
The amended Rules will provide current and future reporting entities with more detail on their AML/CTF obligations.
Please send any comments on the consultation paper and exposure draft to policy@qls.com.au by 20 January 2025.
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