Anti-Money Laundering: Am I providing a designated service?

Ongoing reforms to Australia's anti-money laundering and counter-terrorism financing (AML/CTF) regime aim to better detect, deter, and disrupt illicit activities and meet international standards. AML compliance is crucial for law firms, as non-compliance can lead to heavy penalties, reputational damage, and criminal liability.
 
Amended legislation for Tranche 2 of the reforms was introduced to the Commonwealth Parliament in September 2024. Tranche 2 expands the regime to include services provided by lawyers, accountants, real estate agents and others considered high risk. 

Our experts will unpack the legislation and what the designated services are, within the context of legal practice. This session will briefly explore the history of the AML/CTRF changes and how it will practically impact your business moving forward