Tag:Financial ACtion Task Force

Around the world, the fight against money laundering and terrorism financing is ramping up in response to the emergence of ever-more sophisticated criminal networks and infrastructure. The Financial Action Task Force, a global intergovernmental organisation, established a set of standards and provided recommendations to all governments to consider and implement for detecting and preventing money laundering. The Australian government has now introduced the Anti-Money Laundering and Counter-Terrorism Financing Amendment Bill 2024 (Bill) to parliament which proposes to overhaul Australia’s existing anti-money laundering and counter terrorism financing (AML/CTF) regime.