InternationalAML/CTF and the Legal Profession: What Tranche 2 Actually Means for Practitioners
For years, the Australian legal profession has operated on the periphery of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act). While financial institutions have long been on the frontline, the "Tranche 2" reforms are set to bring lawyers, accountants, and real estate agents—often referred to as "gatekeepers"—fully into the regulatory fold. This shift represents more...