Key Changes Effective Now: 

• Businesses and individuals bound by AML/CTF laws must now assess whether disclosing information could prejudice an investigation before sharing it (other than with AUSTRAC). 

• The updated tipping off offence focuses on potential harm, with penalties remaining severe (up to $39,000 or 2 years’ imprisonment). 

Purpose: 

• Balances intelligence gathering with practicality to enhance crime detection while preventing criminals from being alerted. 

• Encourages legitimate information sharing within and between businesses to combat money laundering and terrorism financing. 

AUSTRAC’s Stance:  

• Reforms modernize outdated laws ahead of expanding coverage to 100,000+ new businesses (e.g., real estate, accountants) in 2026. 

• Goal: Strengthen collaboration between industry and law enforcement without compromising investigations. 

Next Steps: 

• Current sectors (banks, casinos, remitters, etc.) must comply immediately. 

• Additional AML/CTF obligations for newly regulated industries take effect in 2026. 

Action Required: Review disclosure protocols to ensure compliance with the harm-based test. 

Apr 2025