What Australia AML/CTF Act 2006: Anti-Money Laundering and Counter-Terrorism Financing Act requires
The Australian Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) establishes the AUSTRAC-administered regulatory framework for anti-money laundering and counter-terrorism financing in Australia. The Act applies to "reporting entities" providing designated services including banking, gambling, remittance, bullion, and digital currency exchange. Obligations include enrolment with AUSTRAC, customer identification procedures, ongoing customer due diligence, threshold transaction reporting (10,000 AUD or more cash), suspicious matter reporting (SMR), international funds transfer instruction reporting, and maintaining an AML/CTF programme. Penalties include civil money penalties up to millions of AUD and criminal offences. Tranche 2 amendments (effective 2026-2027) extend coverage to lawyers accountants real estate agents and trust and company service providers.
Pillar: Financial Crime, AML & Sanctions · Authority: Australian Government (AUSTRAC) · Version: 1.0.0 · Last updated:
Primary source: https://www.legislation.gov.au/Series/C2006A00169
SHA-256 integrity: f8bb229375b79ba6c48c4e74773920a7fc809fb4bce51798b4646f65fb20337f
Primary Citations — 5 traced to source
- Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Commonwealth Act No. 169, 2006)
- Anti-Money Laundering and Counter-Terrorism Financing Rules Instrument 2007 (No. 1)
+ 3 more citations (full bibliography, deterministic workflow, actionable schema and crosswalks) included in the vault unlock — $0.01 via Skyfire / L402 / Direct Base USDC.
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