Reforms to the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) (AML/CTF Act) took effect on 31 March 2026. The reforms in AML/CTF Act together with the new Anti-Money Laundering and Counter-Terrorism Financing Rules 2025 (the Rules) marked a significant step towards a more risk-based compliance framework. AUSTRAC has warned that a purely procedural approach to compliance is not sufficient and instead emphasised that the purpose of the reforms is to help businesses better identify, assess and manage money laundering and terrorism financing risks.

Australia’s AML/CTF reforms represent one of the most significant shifts in the country’s financial crime regulatory framework in recent years.

Designed to address the evolving risks of money laundering, terrorism financing, and proliferation financing, these changes will fundamentally reshape how organisations identify, manage and mitigate financial crime risk.

For existing reporting entities, the 31 March 2026 is the date when new obligations formally commence for existing reporting entities.

Significant reforms to Australia’s AML/CTF regime will take effect in 2026 impacting both existing reporting entities, including gaming venues, wagering service providers and casinos.

In Australia, Customer Due Diligence (or CDD) involves taking steps to identify your customers and ensuring that your business is managing the money laundering and terrorism financing risk they may pose.