Reforms to Australia's AML/CTF Regime
On 21 June, AFIA responded to the Attorney-General’s Department’s consultation on reforming Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) regime.
AFIA acknowledges the critical importance of Australia’s work on AML/CTF at both the international and domestic level, including the development of an AML/CTF framework which endeavours to counter the threats posed by ML/TF activities.
We support the objective of a simplified, modernised and clear regime which captures all the information necessary to efficiently and effectively mitigate ML/TF risks.