A Bill has been introduced into the Australian parliament to reform the Australian anti-money laundering and counter-terrorism financing regime. This episode explains to CA ANZ members what’s in the Bill, how it may impact you, your business and your clients and when to start getting ready to comply. CA ANZ Senior Policy Advocate for Business Reform, Jill Muir joins Gillian Bowen for this practical discussion. 

“Put some time into cleaning up your client base. Formally disengage those clients you’re not servicing anymore because then they don’t become part of your next compliance activity with AML/CTF.”

“A lot of smaller practices have their procedures in theory, such as their ‘know your client’ process. Now is the time to record these and build up a folder of key procedures and processes in your business.”

Resources referred to in the episode:

• Media statement on AML/CTF Bill 
• CA ANZ Q&A on Australia's AML/CTF regime 
• Contact the CA ANZ Business Reform team 
• AUSTRAC’s topic-based videos