Report on the statutory review of the AML/CTF Act and associated Rules and Regulations
In 2013, the Government commenced a review of the Anti-Money Laundering and Counter-Terrorism Act 2006 (AML/CTF Act) and associated rules and regulations. The report on the review was tabled in Parliament in 2016.
The review considered findings of the Financial Action Task Force’s (FATF) mutual evaluation of Australian’s AML/CTF regime, and consultation with industry, government and the public.
The review concludes that Australia's AML/CTF regime is relevant and appropriate but identifies opportunities to minimise red tape and recommends strengthening the already robust legal framework to better respond to new and emerging threats.
- Download a copy of the report (1532KB, PDF)
More information is available on the Department of Home Affairs website:
This guidance sets out how we interpret the Act, along with associated Rules and regulations. Australian courts are ultimately responsible for interpreting these laws and determining if any provisions of these laws are contravened.
The examples and scenarios in this guidance are meant to help explain our interpretation of these laws. They’re not exhaustive or meant to cover every possible scenario.
This guidance provides general information and isn't a substitute for legal advice. This guidance avoids legal language wherever possible and it might include generalisations about the application of the law. Some provisions of the law referred to have exceptions or important qualifications. In most cases your particular circumstances must be taken into account when determining how the law applies to you.