We are reviewing industry feedback from our recent public consultation on the first exposure draft of the Anti-Money Laundering and Counter-Terrorism Financing Rules (AML/CTF Rules) before releasing a second exposure draft. 

“We received more than 100 submissions as well as feedback through our sector-based Rules and Guidance Working Groups,” said Katie Miller, AUSTRAC Deputy CEO Regulation. 

“It’s been great to see businesses engaging closely with us.” 

What’s changing in the second exposure draft

The second exposure draft will include:

• changes to the AML/CTF Rules based on feedback received from the first draft
• updated reportable details for threshold transaction reports and suspicious matter reports
• updated information required for enrolment and registration applications.

Understanding the changes to the Rules 

Last year, Parliament amended the AML/CTF Act 2006. We are now updating and simplifying the AML/CTF Rules to support the changes. 

The new AML/CTF Rules framework will simplify the existing AML/CTF Rules into two documents:

• the Anti-Money Laundering and Counter-Terrorism Financing Rules 2025 (also known as the “new AML/CTF General Rules”): These rules will consolidate most existing provisions, with the Exposure Draft Rules forming a subset of these.
• the AML/CTF (Exemptions) Rules 2007 (also known as the “exemption rules”): This document will retain some existing exemptions from the current AML/CTF Act where appropriate. 

We will provide guidance to reporting entities on how they can meet their AML/CTF obligations in line with the amended Act and new Rules.

Who do the new rules apply to

If you are regulated by AUSTRAC or provide services in the below sectors, these new rules may affect you: 

• real estate
• accounting
• legal
• trust and company services
• precious stones 
• virtual assets sectors. 

If you operate in these sectors and are unsure whether the new rules apply to you, use our ‘Am I regulated?’ checker to find out if your business may be regulated. 

How to have your say

If you haven’t participated in the public consultation yet, you will soon have an opportunity to make a submission during the second round. 

We also encourage you to keep an eye on our industry consultation page and follow us on LinkedIn page for updates. If you’re a reporting entity, we will email you when the next round opens. 

You can also get in touch with your industry association to make sure your voice is heard when they engage with AUSTRAC in one of our industry forums.