Australia: Money Laundering

Professional service providers preparing for the AML/CTF Tranche 2 regime face uncertainty about which services qualify as "designated services" under the Anti-Money Laundering and Counter-Terrorism Financing Act.

Employee Entitlement Scheme operators face a critical deadline of 1 September 2026 to obtain an Australian Financial Services License (AFSL) to continue operations. Understanding the application requirements and compliance obligations is essential for businesses managing employee contribution schemes. Sophie Grace provides comprehensive support for AFSL applications, AUSTRAC registration, and tailored AML/CTF compliance programs.

Australia's cryptocurrency sector faces a new era of regulatory oversight as recent legislative reforms introduce comprehensive licensing requirements for digital asset platforms and strengthen anti-money laundering controls.

From 1 July 2026, Australian real estate businesses that broker, sell or transfer property may be required to enrol with AUSTRAC, implement a written AML/CTF programme and conduct customer due diligence before providing designated services.

The new legislative amendments broaden the reach of laws fighting money laundering and covert financing of terrorism.

Following the Australian Government’s new federal hate crimes legislation that commenced in January 2026, HSF Kramer Partners Jacqui Wootton and Alice Molan and Solicitor Shaun Milligan...

New South Wales law firms would be well advised to start preparing now — undertaking risk assessments, preparing policies and systems , and undertaking staff training.

The Act establishes a framework for the identification, mitigation, and management of money laundering and terrorism financing risks.

AUSTRAC has taken enforcement action against several remittance & DCE providers for failures to comply with reporting obligations within required timeframes.