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

Summary

This amendment strengthens Australia's defences against money laundering and terrorist financing by updating the Anti-Money Laundering and Counter-Terrorism Financing Act 2006. The changes likely introduce tougher reporting requirements for banks, financial institutions, and other businesses that handle money, making it harder for criminals to hide the origin of funds or move money secretly to support terrorism. For everyday Australians, this means financial institutions may ask more questions about large transactions or the source of money, but the intent is to protect the financial system from being exploited by organised crime, drug traffickers, and terrorist organisations.