Support policy and legislative reforms to harden Australia against illicit financing and evaluation of Australia's anti-money laundering framework.
The Government will provide $14.3 million over 4 years from 2023-24 to support policy and legislative reforms to harden Australia against illicit financing and evaluation of Australia's anti-money laundering framework. Funding includes: * $8.6 million over 3 years from 2023-24 to the Australian Transaction Reports and Analysis Centre (AUSTRAC) to develop and consult stakeholders on legislative reforms to modernise Australia's anti-money laundering and counter-terrorism financing regime and support preparation for, and participation in, the evaluation of Australia's regime against global standards by the Financial Action Task Force Attorney-General's | * $5.6 million over 4 years from 2023-24 in additional departmental resourcing for the Attorney-General's Department. The cost of this measure will be met from the Confiscated Assets Account under the Proceeds of Crime Act 2002.