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The adequacy and efficacy of Australia’s anti-money laundering and counterterrorism financing (AML/CTF) regime

Financial reporting Financial system regulation Money laundering Banks and banking Financial services industry Organised crime Australia

Evidence to this inquiry largely focused on the impact and/or the benefits of extending the existing AML/CTF regime to DNFBPs that are not already subject to regulation of this nature. As such, this report largely focuses on this issue, but also canvasses other aspects of reform proposed in the course of the inquiry to improve the operation of Australia’s AML/CTF regime.

This report has four chapters:

  • Chapter 1 sets out the inquiry’s terms of reference, provides an overview of the conduct of the inquiry and introduces Australia’s AML/CTF regime.
  • Chapter 2 considers the key issue raised during this inquiry, that being the extension of the AML/CTF regime to DNFBPs.
  • Chapter 3 considers suggestions raised in evidence regarding improvements to the existing AML/CTF regime.
  • Chapter 4 provides the committee’s view and recommendations.
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