On 21 February 2025, the Law Council of Australia (LCA) provided its submission to AUSTRAC about the draft AML/CTF Rules. These new AML/CTF Rules will affect all law firms who will provide designated services under the AML / CTF Act (as amended). The LIV provided its own submission to the LCA about the draft rule.
AUSTRAC has recently published its guidance on tipping off. What is 'tipping off'? The AML/CTF Legislation, as amended in 2024, prohibits disclosing certain information to clients if it would or could reasonably be expected to prejudice an investigation. This is known as tipping off.
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Article | Law Institute Journal
17 October 2024
Recording | CPD on Demand
23 September 2024
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