Some recent updates from AUSTRAC

AUSTRAC and Department of Home Affairs are working on Transitional Rules that will bring relief to the Reporting Entities implmenting new AML/CTF reforms. These rules will be notified, once finalised after a consultation round. Image AI generated a.  Summary of key deferrals under the Transitional Rule for existing Reporting Entities General Transitional Relief: Initial CDD: 3-year transition period until 30 March 2029 Ongoing CDD: Must implement from 31 March 2026 (no deferr

Appointing an AML/CTF Compliance Officer in the new AML/CTF regime has some different rules to the game.