AUSTRAC launches second public consultation on updated AML/CTF rules – with enhanced EDD, expanded reporting, and clearer regulations to boost compliance and risk management – closes 27 June

The revised rules introduce more flexible and comprehensive customer due diligence measures, expanded requirements for transaction and suspicious matter reporting, and clearer guidance to help entities better understand their compliance obligations. These updates aim to address challenges faced by reporting entities, enhance risk management practices, and ensure stronger protections against financial crime…