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Watchdog seeks to strike balance in Australia's revamped AML-law proposal

( June 13, 2025, 08:36 GMT | Official Statement) -- MLex Summary: Australia’s financial-crime watchdog is asking for public submissions on whether the second draft of the revamped anti-money laundering laws adequately cover all legal structures that are commonly used in different parts of the economy. In the consultation documents released this week, the Australian Transaction Reports and Analysis Centre also said that it was interested in understanding whether the proposed 2025 Anti-Money Laundering and Counter Terrorism Financing Rules struck the right balance between demanding reports of suspicious transactions and placing an administrative burden on businesses.The Austrac discussion papers linked to the second draft of the proposed AML bill are attached. ...

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