AUSTRAC has released its updated “Learn how to use this guidance (Reform)” — the last piece of the puzzle for Tranche 1 entities preparing for the upcoming AML/CTF reforms.
The guidance helps businesses:
- Understand the link between the Act, Rules, and guidance
- Interpret “must,” “expect,” and “may” statements correctly
- Apply obligations to their business model and risk profile
This marks an important step in bridging law and practice — giving reporting entities clear direction as they prepare for reform.