
Clock ticking for conveyancers to be ready for AML reform – AUSTRAC
AUSTRAC chief executive Brendan Thomas has conceded AML Tranche 2 timeframes are tight for conveyancers. The CEO tasked with implementing Anti-Money Laundering and Counter-Terrorism (AML/CTF) reforms acknowledges they will present “challenges” for businesses trying to get up to speed. He also reiterated that the regulator does not expect perfection from day one – which Australian Conveyancer revealed last month. Mr Thomas was speaking as he set out expectations the sector needed to meet when they become regulated entities on 1 July next year. That’s when the Tranche 2 reforms e