Anti-Money Laundering and Counter-Terrorism Financing Amendment Bill 2026

Summary

Australia's money laundering and terrorism financing laws are being updated to strengthen how banks, financial institutions, and other businesses detect and report suspicious financial activity. The changes amend the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, which currently sets out the rules these organizations must follow to prevent criminals and terrorist groups from hiding illegal money in the financial system. The update matters because it helps law enforcement catch financial crimes earlier, protects Australia's reputation in international finance, and makes it harder for organized crime and terrorism to be funded through Australian banks and businesses.

What happens at this stage

The main debate on whether the chamber supports the broad purpose of the bill. Members speak to its overall merits and concerns rather than the fine print. The government outlines its policy intentions; the opposition and crossbench put their case. This is the stage that determines whether the bill proceeds at all.

Next: Consideration in Detail (House) or Committee of the Whole (Senate), where the bill is examined clause by clause