Executive Summary Under Australia’s Tranche 2 AML/CTF reforms, professional services firms will be required to undertake and document AML risk assessments . For many partners and principals, this sounds more complex than it needs to be. In reality, an AML risk assessment is not a technical exercise or a regulatory formality. It is a structured, common-sense process  that helps firms understand where they may be exposed to money laundering or terrorism financing risks — and ho

Executive Overview Australia is on the cusp of one of the most significant regulatory shifts in financial crime prevention in decades. The long-anticipated Tranche 2 AML/CTF reforms  will soon extend anti-money laundering and counter-terrorism financing obligations to a new group of regulated professions — including accountants, lawyers, conveyancers, real estate agents, trust and company service providers, and other professional advisers . For many firms, this represents unf

Australia's financial crime landscape is evolving, prompting the Australian Transaction Reports and Analysis Centre (AUSTRAC) to extend Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) obligations to a broader range of professionals under the Tranche 2 reforms. For Chartered Accountants, this expansion signifies a critical shift in compliance responsibilities, necessitating proactive measures to safeguard clients and uphold professional integrity. New to Tran