From www.charteredaccountantsanz.com: Australia’s Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) reforms, passed on December 10, 2024, will include nine professional services, such as assistance in creating legal arrangements, effective from July 1, 2026.

Those offering these services must register with AUSTRAC and comply with regulations by that date.

The reforms align Australia with international standards set by the Financial Action Task Force, addressing risks associated with professional services being exploited for money laundering and terrorism financing.