Legislative changes

The Anti-Money Laundering and Countering Financing of Terrorism Act (2009) is being amended to make the system more risk-based, efficient, and effective.  Four Bills make up the amendments: 

Statutes Amendment Bill(external link) was passed into law on 26 November 2025.  

  • Includes small but important fixes to the Act, including removing the need to verify a customer address for standard simple low-risk transactions. 

Anti-Money Laundering and Countering Financing of Terrorism Amendment Act 2026(external link) was passed into law on 18 May 2026 and the amendments are effective immediately. 

  • Delivers targeted, practical changes to reinforce the risk-based approach and clarity for businesses with AML compliance obligations. The changes remove duplication and ensure obligations, including due diligence, and the provision of records, are applied proportionately, and not through rigid rules.  

Please refer to DIA website(external link) for the updates relating to these amendments. 

Anti-Money Laundering and Countering Financing of Terrorism (Supervisor, Levy, and other matters) Amendment Act 2026(external link) was passed into law on 18 May 2026. The following changes come into effect on 1 July 2026, with the exception of the levy which is subject to Cabinet approval. 

  • Creates a single supervisor and sufficient powers for DIA to successfully carry out its mandate 
  • Enables the setting and collection of an industry levy to (part) fund an AML/CFT strategy and regulatory work programme 
  • Allows agencies to make regulatory changes through alternative forms of secondary legislation such as rules and notices. 

Anti-Money Laundering and Countering Financing of Terrorism (Omnibus) Amendment Bill(external link) is scheduled to be introduced to Parliament in mid-2026.

  • Delivers further regulatory relief 
  • Introduces wider legislative changes to implement international standards required by the Financial Action Task Force 
  • Supports law enforcement to tackle organised crime.

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