Following the first round of consultation that began in late 2024, we are seeking further feedback on new Anti-Money Laundering and Counter-Terrorism Financing Rules (AML/CTF Rules).
We encourage you to submit a response using the consultation form below. The earlier you submit a response, the sooner we can commence working on any further adjustments.
To learn more about AML/CTF reforms and the background to these changes, including new sectors that will be regulated, refer to AML/CTF Reform.
Updates following consultation on the first exposure draft
Your engagement in the first round of consultation provided us with valuable feedback. Key focus areas included customer due diligence, AML/CTF programs, value transfer services, and reporting groups.
We have updated the draft AML/CTF Rules to address feedback we received in the first round of consultation. This includes updates to:
- allow delayed initial customer due diligence in a wider range of circumstances
- provide greater flexibility in determining the lead entity of reporting groups
- provide more detail on how to form reporting groups
- clarify definitions relevant to value transfer and travel rule requirements
- where possible, address challenges businesses may have implementing or complying with the AML/CTF Rules.
The second exposure draft of the AML/CTF Rules also contains new requirements on:
- reportable details for threshold transaction reports and suspicious matter reports
- information required for enrolment and registration applications.
We have also released a separate exposure draft that sets out amendments to current rules-based exemptions which will be retained, called the AML/CTF Rules (Class exemptions and other matters) 2007.
The second consultation paper poses questions that we would particularly like your feedback on. It also contains AUSTRAC’s responses to commonly raised feedback from the first round of consultation.
Exposure draft explanatory statement
We have provided an exposure draft explanatory statement with notes on clauses to assist you to interpret the new AML/CTF Rules. You can read the explanatory statement alongside the second exposure draft AML/CTF Rules to:
- understand how the amended AML/CTF Act and Rules interact
- gain insight into AUSTRAC’s policy intent.
The explanatory statement does not yet include an impact analysis or statement of compatibility with human rights. This will be available soon when the AUSTRAC CEO tables the new AML/CTF Rules in Parliament.
Next steps
Public consultation on the Exposure Draft AML/CTF Rules is now closed.
AUSTRAC is now considering all submissions. Please note that we will not respond to individual submissions unless we require more information or clarification.
Support and more information
Email reform@austrac.gov.au if you:
- have questions about the consultation
- need assistance with the web form.
Next steps
AUSTRAC will consider all submissions received via the consultation form. Please note that we will not respond to individual submissions unless we require more information or clarification.
Following the second exposure draft AUSTRAC will finalise the changes to the AML/CTF Rules and publish them in August 2025. You can subscribe to stay up-to-date on all reform-related changes.