Regulatory Alerts2026-03-05
Added · Updated
AUSTRAC Publishes Guidance on New Compulsory Examination Powers
AUSTRAC has published guidance outlining the application of new compulsory examination powers under Section 172A of the Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2024. The powers authorize the regulator to issue notices requiring individuals and reporting entities to attend examinations, answer questions, and produce documents to clarify money laundering risks and disrupt organized crime. The guidance explicitly clarifies that these examinations are investigative rather than punitive, do not presume legal wrongdoing, and include safeguards such as the right to legal representation and health professional consultations.
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