The Australian Transaction Reports and Analysis Centre (AUSTRAC) reported that changes to Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) tipping off offence have entered into force, shifting the test to whether a disclosure would or could reasonably be expected to prejudice an investigation. The revised offence, which carries a maximum penalty of around AUD 39,000 or up to two years in prison, applies to businesses and individuals covered by the AML/CTF legislation including banks, casinos, remitters and money lenders. AUSTRAC framed the change as part of broader AML/CTF reforms passed late last year to expand and simplify the regime, ahead of an expected expansion to around 100,000 new businesses next year, while still supporting information sharing within and between businesses. AUSTRAC noted that, while the tipping off offence change applies immediately, most obligations under the amended AML/CTF Act are not due to commence until 2026, when sectors including real estate, accounting, precious stones and metals and digital assets come under AUSTRAC’s remit.
Australian Transaction Reports and Analysis Centre (AUSTRAC) 2025-03-31
Australian Transaction Reports and Analysis Centre narrows AML tipping off offence to disclosures likely to prejudice investigations
AUSTRAC announced changes to Australia's AML/CTF tipping off offence, now based on whether a disclosure could prejudice an investigation. Penalties include up to AUD 39,000 or two years' imprisonment. This is part of broader reforms expanding the regime to include 100,000 new businesses next year, with most obligations starting in 2026.