- Draft Exposure Anti-Money Laundering and Counter-Terrorism Financing Bill 2005 (Cth) released - 16 December 2005
- The Anti-Terrorism Act (No 2) 2005 (Cth) passed by the Senate - 14 December 2005
- Anti-Terrorism Bill (No. 2) 2005 (Cth) - 3 November 2005
- The Anti-Terrorism Act 2005 (Cth) - 3 November 2005
- Australia fighting money laundering and terrorist financing - 17 October 2005
- FATF Third Mutual Evaluation Report: Anti-Money Laundering and Combating the Financing of Terrorism (Australia) - 14 October 2005
- Government strengthening anti-money laundering and counter-terrorist financing - 11 October 2005
Draft Exposure Anti-Money Laundering and Counter-Terrorism Financing Bill 2005 (Cth) released - 16 December 2005
Senator Ellison released an Exposure Draft of the Anti-Money Laundering and Counter-Terrorism Financing Bill 2005 (Cth). The Bill is subject to a public consultation period conducted by the Attorney-General's Department and is due to expire on 13 April 2006. For more, see Focus: Anti-money laundering - December 2005.
The Anti-Terrorism Act (No 2) 2005 (Cth) passed by the Senate - 14 December 2005
The Anti-Terrorism Act (No 2) 2005 (Cth) received assent on 14 December 2005. Of particular relevance to the financial sector are the amendments to the Financial Transaction Reports Act 1988 (Cth) and the extension of the terrorist financing offence contained in the Criminal Code Act 1995 (Cth). See: Focus: Anti-money Laundering - December 2005.
Anti-Terrorism Bill (No. 2) 2005 (Cth) - 3 November 2005
An Anti-Terrorism Bill (No. 2) 2005 (Cth) has been introduced into the House of Representatives. The Government has used the Bill to bring the anti-money laundering and counter-terrorist financing regimes into compliance with some of the Financial Action Task Force Nine Special Recommendations on CTF (the Special Recommendations) by amending the Financial Transactions Reports Act 1988 (Cth) and the Criminal Code Act 1995 (Cth).
For further details, refer to Bills Digest.
The Anti-Terrorism Act 2005 (Cth) - 3 November 2005
The Anti-Terrorism Act 2005 (Cth) amended the law relating to terrorist acts including the offence of financing terrorism.
For further details, refer to Parliament of Australia website.
Australia fighting money laundering and terrorist financing - 17 October 2005
The Minister for Justice and Customs, Senator Chris Ellison, issued a press release welcoming the release of the FATF's evaluation of Australia's AML and CTF measures.
FATF Third Mutual Evaluation Report: Anti-Money Laundering and Combating the Financing of Terrorism (Australia) - 14 October 2005
The FATF Third Mutual Evaluation Report (Australia) evaluates Australia's levels of compliance with the FATF 40 Recommendations (the Revised Recommendations) and the Special Recommendations and found Australia non-compliant in several areas. A copy of the Report, and a summary of it, can be found at the FATF website.
Government strengthening anti-money laundering and counter-terrorist financing - 11 October 2005
The Minister for Justice and Customs, Senator Chris Ellison, issued a press release stating that the Australian Government has agreed to reforms to strengthen Australia's AML and CTF regime. The release states that Australia's implementation of the FATF recommendations would occur in two tranches with the first tranche to cover the financial and gambling sectors and bullion dealers, and lawyers and accountants, but only to the extent that they provide services in direct competition with the financial sector. The second tranche will extend the obligations to real estate agents, jewellers and professionals, such as accountants and lawyers, when they provide non-financial services.
