This publication provides general information only and is not legal or professional advice. CPA Australia gives no warranties as to its accuracy, completeness or suitability and disclaims all liability for reliance on it. Listeners should seek their own independent advice for their circumstances.

What does Australia's biggest AML (anti-money laundering) reform in years mean for accountants, lawyers, advisers and business owners?

This episode breaks down the tranche 2 anti-money laundering reforms, the growing role of AUSTRAC, and why professional service firms are becoming critical gatekeepers in the fight against financial crime.

The discussion explores how money laundering really works, why criminals target trusted advisers, and the practical steps businesses need to take to prepare for new compliance obligations.

Main learnings:

Why Australia is expanding AML reporting obligations

How accountants and lawyers help identify suspicious activity

What suspicious matter reporting involves in practice

Why knowing your customer is central to AML compliance

The role of AUSTRAC as regulator and intelligence agency

Common red flags linked to financial crime and tax evasion

How smaller businesses can approach AML compliance practically

This episode offers practical guidance for accounting, finance and advisory professionals navigating Australia's evolving AML landscape.

Listen now.

Host: Jacqueline Blondell, editor, CPA Australia

Experts:

Brendan Thomas, AUSTRAC CEO

Geoff Peck, a former fraud squad detective with Victoria Police's major Fraud Group, and managing director Forensic & Integrity Solutions

Amanda Wood, managing director, Kroll's Investigations, Diligence and Compliance Practice

For more, head to the Australian Institute of Criminology website.

Need help with your AML/CTF obligations? AUSTRAC and CPA Australia have a host of resources.

AUSTRAC's guidance for small business is another useful resource.

And head to the Crime By Numbers homepage to catch up on earlier eps in this second series as well as series 1.

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Listen to more INTHEBLACK episodes and other CPA Australia podcasts on YouTube. https://www.youtube.com/@CPAaustralia/podcasts

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CPA Australia