introduced
Anti-Money Laundering Bill
Portfolio: Home Affairs
In plain English
Extends anti-money laundering rules to cover real estate agents, lawyers, accountants, and other high-risk professions. Australia is the last major economy to bring these professions under AML/CTF regulation.
The case on both sides
AI-assisted summary of public arguments — labelled per our editorial rules.
Supporters say
Closes a major gap in financial crime defences. Recommended by FATF since 2015. Protects legitimate businesses from being used to launder criminal proceeds.
Critics say
Places significant compliance burden on small professional practices. May increase costs for home buyers. Privacy concerns about expanded government surveillance of financial transactions.
Source: Australian Parliament House bill record
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