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

Summary

Australia's anti-money laundering and counter-terrorism financing laws are being updated to strengthen how the country detects and prevents criminals from hiding illegal money and terrorist funding. This amendment modifies the existing Anti-Money Laundering and Counter-Terrorism Financing Act 2006, which requires banks, financial institutions, and other businesses to report suspicious transactions to authorities. The changes matter because they help close gaps that criminals exploit to move dirty money through the financial system, protect Australia's economy from funding terrorist activities, and ensure that banks and businesses have clearer obligations to identify their customers and monitor for suspicious behavior.

What happens at this stage

The final vote in this chamber on the bill as a whole, after all amendments have been considered. If it passes, the bill moves to the other chamber to go through the same process. If both chambers have already agreed to identical text, the bill proceeds directly to Royal Assent.

Next: The other chamber, which runs the same process from First Reading, or Royal Assent if both chambers have already agreed