AML / CTF Reforms
The AML/CTF Amendment Bill 2024 brings new industries under the remit of mandatory financial crime obligations, with a start date of 1st July 2026. Impacted industries include:
Lawyers
Accountants
Conveyancers
Real Estate Professionals – such as real estate agents, buyers’ agents and property developers
Dealers in precious stones, metals and products
Trust and company service providers
Knaplo Advisory offers expertise and guidance including the following:
Initial risk assessment – how will your business be impacted
Bespoke Financial Crime program – tailored to your business
Training for you / your staff
Assistance with necessary regulator registrations (such as AUSTRAC)
Guidance in relation to your obligations including:
Appointment of an AML / CTF Compliance Officer
Customer Risk Assessments
Suspicious Matter Reporting
Records Retention