AUSTRALIA PUSHES AHEAD WITH LONG AWAITED AML REFORMS
September 16th, 2024
The Australian government has proposed a comprehensive set of AML reforms within formal legislation that is now under discussion in the country’s House of Representatives and Senate (1).
A key goal is answering criticisms of Australia that its AML/CFT regime was too narrowly focused. The country’s FIU Austrac noted that the proposed reforms – if approved - will extend AML/CTF requirements to "additional services provided by lawyers, accountants, trust and company service providers, real estate professionals...” (2)
These include buying and selling real ...
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