There are large gaps in the financial system. The changes will help close these gaps that contribute to an environment where organised crime and professional money laundering organisations can inflict harm to individuals, businesses and communities. These laws will also ensure better meet international standards.

The changes to Australia’s anti-money laundering and counter-terrorism funding (AML/CTF) regime will help build a stronger, more proactive intelligence picture, which will, in turn, deter, detect, and disrupt money laundering and terrorism financing (ML/TF). 

Details https://bit.ly/47dO4SK