Tranche 2 AML is a collective of people concerned about delays to Tranche 2 AML reform and ensuring that AML/CTF knowledge is widely shared and understood, especially by small businesses in law, accounting, real estate, and luxury goods, who will bear the bulk of compliance costs with complex rules well beyond what they are used to and with much more severe consequences for non-compliance.
We believe that combatting money laundering through the collaboration of all stakeholders in the broader economy makes us safer as a country and enables law enforcement and regulatory agencies to keep us safe. Every business and profession has a part to play in reducing the incidence of money laundering and financing terrorism.
Tranche 2 AML seeks to share content that grows knowledge and informs people to help them understand the history of AML/CTF, the need for reform, the costs and benefits of reform, and the implications for sectors that previously have been sheltered from the impact of this irreversible regulatory change. Trance 2 AML reform will be expensive, but the long-term benefits for Australia are well worth it and the right thing to do to meet international FATF rules.