In October 2024, AUSTRAC held its first industry forums with industry associations representing:

• current reporting entities 
• tranche 2 entities. 

AUSTRAC CEO Brendan Thomas chaired the forums, which featured presentations from Dr Rochelle Hurst, National Manager, Education & Industry Engagement, and Daniel Mossop, National Manager Policy, Rules and Guidance. 

During the forums, Brendan Thomas delivered a keynote address that highlighted the important role of reporting entities and their respective industry associations in the fight against financial crime. He also outlined AUSTRAC’s intention to work with industry to create a co-designed framework of engagement that will extend to the development of the new Rules and guidance.

Why forums are important

AUSTRAC is working closely with the industry associations representing current reporting entities and tranche 2 entities to ensure the anti-money laundering and counter-terrorism financing (AML/CTF) reforms are effectively implemented. 

These industry forums establish effective communication channels between AUSTRAC and industry that will help us share information and consult with you about the reforms regularly. They also allow industry to ask questions, comment and provide feedback on aspects of the reform, like draft Rules and guidance.

Once the implementation of the AML/CTF reform work is complete, the forums will continue as a means of communicating important information to industry, maintaining effective working relationships with industry associations and staying up-to-date with any challenges facing the various sectors. 

What next

• AUSTRAC held further industry forums in December 2024 and March 2025, and is looking to run further sessions in May.
• In addition to the forums AUSTRAC holds Rules & Guidance Working Groups.  The upcoming Rules & Guidance Working Groups will look to focus on customer due diligence, the travel rule and risk assessments.
• Industry associations are encouraged to participate in the upcoming Rules & Guidance Working Groups, to provide AUSTRAC with feedback to allow us to tailor our guidance for their sectors.
• Industry associations are encouraged to reach out to the Industry Engagement team for requests for participation by AUSTRAC in industry events.

More information 

To stay informed about your obligations and subscribe to updates on upcoming consultations, guidance and events, visit the AML/CTF reform page on our website.