CURRENT TOPICS
I will be updating the content of this page as the legislation surrounding proceeds of crime and AUSTRAC is amended and updated. All previous topics can be found on the Topics of Interest page, linked below.
AUSTRAC - AML Tranche 2
Tranche 2 of The Anti-Money Laundering legislation is due to be introduced in early to mid 2026.
This legislation, when in force, will have a profound effect on not only lawyers, but also the broader commercial community. In particular, those who deal with real property, such as real estate professionals and lawyers. The broader financial community, in particular that part of the community that is involved in gambling, such as registered clubs and hotels, are also exposed to Tranche 2, and as with lawyers and real estate professionals, will need to meet compliance and just as importantly, establish a self governing protocol.
For private enterprise, this self governing protocol represents a fundamental change as to how the real estate and gambling industry operates.