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

March 2022

© Commonwealth of Australia 2022
ISBN: 978-1-76093-387-6

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Acronyms and abbreviations


List of recommendations

Chapter 1—Introduction

  Terms of reference
  Conduct of the inquiry
  Background and context of the inquiry
  Structure of this report

Chapter 2—Regulation of gatekeeper professions

  The threat environment
  Financial Action Task Force recommendations
  Concerns of the DNFPB sectors

Chapter 3—Current and emerging challenges in AML

  Complexity of Australia’s AML/CTF framework
  Beneficial ownership scheme
  Risk-based approach
  Civil and criminal penalties
  Scope of AUSTRAC’s regulatory responsibilities

Chapter 4—The way forward

  Regulation of DNFBPs
  Improvements to the AML/CTF framework
  Committee view

Appendix 1—Submissions and additional information

Appendix 2—Public hearings

Committee Secretariat contact:

Committee Secretary
Senate Legal and Constitutional Affairs Committee
PO Box 6100
Parliament House
Canberra ACT 2600

Phone: +61 2 6277 3560