Inquiry into the AML/CTF Amendment Bill

In October 2024, we responded to the Senate Committee’s inquiry into the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Amendment Bill 2024.

The Bill broadly aligned with the proposals in the Government’s preceding two consultations on reforms to the AML/CTF regime, as well as the key feedback provided in AusPayNet’s submissions to those consultations. Our submission to the inquiry therefore reiterated the feedback that AusPayNet, in consultation with our Policy Experts Group and other Members, provided to the Government on this topic in mid-2023 and mid-2024. This included highlighting the industry’s strong support for amending the tipping-off offence to enable appropriate private-to-private information sharing across the ecosystem, and the importance of ensuring that the obligations under the Privacy Act 1988 do not impede the implementation of such information sharing arrangements.

AusPayNet’s submission is available below.