Although details have not been released, it is likely that the counter-terrorism measures announced by the Prime Minister will influence the current review of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act).

Financial sanctions imposed by Australia which financial institutions must comply with will also be affected.

It is also likely that personal financial data collected by AUSTRAC will be given closer analysis by intelligence agencies.

To understand the compliance measures currently imposed by the AML/CTF Act you can watch our video here.