Regulatory guidance and the Reforms Guidance
Submission Date: 12 March 2026
The Law Council provided a submission to the Australian Transaction Reports and Analysis Centre (AUSTRAC) regarding AUSTRAC guidance on the Anti-Money Laundering and Counter Terrorism Financing legislative regime.
This submission:
- emphasises that the provision of sector-specific guidance for the legal profession remains necessary;
- requests that AUSTRAC publish a regulatory guidance note outlining its enforcement approach toward people and entities interpreting the designated service; and
- provides the Law Council's views on specific issues that need to be addressed in AUSTRAC’s Reforms Guidance.
Last Updated on 13/03/2026