Anti-money laundering - New reporting entities - Advanced (AU)

Duration: 81 minutes

Overview: This course provides a comprehensive introduction to Australia's anti-money laundering and counter-terrorism financing (AML/CTF) regime for businesses that are now subject to AML/CTF obligations for the first time. It covers the key concepts of money laundering, terrorism financing and proliferation financing, and explains why professional services are targeted by criminals. You will learn how to determine whether your business is a reporting entity, how to enrol with AUSTRAC, and how to build and maintain an effective AML/CTF program. The topic also covers your customer due diligence obligations, your reporting requirements to AUSTRAC, and your record keeping obligations under the AML/CTF Act.

Why is this course important? From 1 July 2026, lawyers, conveyancers, accountants, real estate agents, dealers in precious metals and stones, trust and company service providers, and a wider range of virtual asset service providers are subject to AML/CTF obligations for the first time. Failing to meet these obligations carries serious consequences - including significant civil and criminal penalties and professional disciplinary consequences from your relevant regulatory body. Beyond the legal consequences, your business plays a genuine role in protecting Australia's financial system from exploitation by criminals. Understanding and meeting your obligations is both a legal requirement and a professional responsibility.

Suitable for: For principals, business owners, partners and compliance officers in newly regulated Tranche 2 businesses - those responsible for enrolling with AUSTRAC, building and maintaining an AML/CTF program, and overseeing their organisation's compliance framework. It is particularly relevant for legal practitioners, accountants, real estate professionals, dealers in precious metals and stones, and trust and company service providers. This topic is based on Australian law.

This course is general in nature and does not cover the specific AML/CTF obligations that may apply to your particular organisation or role. In addition to completing this topic, you should become familiar with AUSTRAC's guidance for your sector and any legislation, policies and other documents that apply in your particular workplace. If in doubt, check your organisation's policies or seek legal advice.

If you are an employee in a newly regulated business without responsibility for program design or compliance oversight, the course Anti-money laundering - New reporting entities- Essentials (AU) may be more appropriate for you.

Online Assessment: Yes

Workplace Activities: None

Disclaimer: The scope of this course is general in nature and does not cover any specific potential anti-money laundering obligations that may apply to your particular workplace, or duties you may have in your role to detect or report certain anti-money laundering incidents.  In addition to this training module, you should become familiar with any legislation, guidelines, directives, policies and other documents that apply to anti-money laundering in your particular workplace and role. In the event of discrepancy between this course and your workplace policies, your workplace policies should be applied. OmniaCapture is not responsible for you or anyone else for any loss suffered in connection with the use of this information. You should seek legal or other professional advice before acting or relying on any of the information contained in this course.