From hallandwilcox.com.au: AUSTRAC released the second exposure draft of the Anti-Money Laundering and Counter-Terrorism Financing Rules 2025, which will overhaul Australia’s AML/CTF framework and affect existing and new reporting entities.

The new rules include updated requirements for customer due diligence, reporting processes, and the establishment of ‘reporting groups’ and their ‘lead entities.’

Consultation on the draft is open until June 27, 2025, with final rules expected in July, and the new framework will take effect on March 31, 2026, for existing entities and July 1, 2026, for new entities.