Where things stand
On 10 December 2024, the Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2024 received Royal Assent. The reforms implement significant amendments to Australia’s AML/CTF regime and seeks to close regulatory gaps in line with the Financial Action Task Force standards, expand AML/CTF regulation to capture additional services, reform existing compliance obligations for reporting entities, and extend AUSTRAC’s oversight to a broader range of high-risk sectors.
In parallel, AUSTRAC has been consulting on the revised AML/CTF Rules. The final Rules were released on 29 August 2025. AUSTRAC has also published a regulatory expectations timeline and launched webinars for the impacted sectors.
What’s next
Most changes take effect from 31 March 2026 (or 1 July 2026 for newly regulated entities), the new tipping off offence came into force earlier, on 31 March 2025.
Other important reform implementation dates for the remainder of 2025 include:
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Targeted consultation
Targeted consultation on draft core guidance via working groups with industry associations and peak bodies.
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Finalisation of core guidance
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Sector-specific guidance
Targeted consultation on sector-specific guidance in industry working groups.
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Finalisation of sector-specific guidance
Finalisation of sector-specific guidance for newly regulated sectors, and AUSTRAC AML/CTF starter program.
AUSTRAC stated that it does not expect new businesses to demonstrate perfect compliance from day one. However, it does expect genuine, sustained efforts to meet obligations. For current reporting entities, AUSTRAC expects immediate steps to strengthen existing frameworks and show steady progress ahead of the March 2026 deadline.
AUSTRAC CEO has also noted that they have modernised their regulatory approach. Rather than focusing solely on individual compliance, it will now take a more directive stance, identify sector-wide risks and set baseline expectations.