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Video: Introduction to Financial Crime and AML Regulations
Video: Introduction to Financial Crime and AML Regulations
The Australian Government continues to reform Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) regime. In May 2024, the Attorney-General’s Department published a consultation paper to introduce legislation extending the current Anti-Money Laundering and Counter Terrorism legislative (AML/CTF) regime to include lawyers.
The AML/CTF regime imposes a number of regulatory obligations on reporting entities, including customer and beneficial ownership due diligence, record keeping and transactions reporting. The AML/CTF legislation also contains offences for non-compliance with regulatory obligations and sanctions.

This CPD series aims to support the legal profession to understand the proposed 2024 changes to AML/CTF legislation, the likely impacts for their practices and equip them with the knowledge they need to stay compliant and stay ahead of these key changes.

Through this series, you will:
• understand the current AML/CTF framework;
• receive insights into how the proposed changes AML/CTF framework may impact legal practitioners in private practice;
• explore the proposed designated services and exemptions; and
• understand the six proposed obligations for legal practitioners.

This introductory session will cover:
• An introduction to financial crime and AML regulations
• What is financial crime?
• How does it filter into different industries?
• How do AML regulations attempt to deal with these issues?
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