On May 19, 2025, AUSTRAC launched a second public consultation to seek feedback on the revised Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Rules, incorporating updates based on the first consultation round.
Key updates reflect stakeholder input and include:
- Broader allowances for delayed customer due diligence (CDD)
- Greater flexibility in reporting group structures
- Clarified terms for the travel rule and value transfers
- Defined reportable details for Threshold Transaction Reports (TTRs) and Suspicious Matter Reports (SMRs)
The final AML/CTF Rules are expected by August 2025.
To know more, read at FCC Times https://www.fcctimes.com/2025/05/19/austrac-launches-second-round-of-consultation-on-overhauled-aml-ctf-rules/?utm_source=RZOLUTWebsite&utm_medium=FCCRegUpdate16Jul25
