From www.bwslawyers.com.au: The Anti-Money Laundering and Counter-Terrorism Financing Amendment Bill 2024 has been passed, expanding Australia’s AML/CTF regime to include services from accountants, lawyers, and real estate professionals.

Key objectives of the Bill are to simplify and modernize the AML/CTF framework and to introduce new categories of regulated services.

The changes will take effect for existing reporting entities on March 31, 2026, and for Tranche 2 Entities on July 1, 2026.