GBG Response to AUSTRAC AML/CTF Reforms in Australia

2 October 2025, SYDNEY, AUSTRALIA: As Australia’s AML/CTF regulations evolve placing greater focus on assessing money laundering risk prior to onboarding customers, organisations must adopt a more tailored approach to customer due diligence.

The current AML/CTF Act is being expanded, and key changes for existing designated entities will need to ensure they are up-to-date and ready to meet the following revised standards: 

• Part A and Part B separation removed: Entities can now structure their AML/CTF programs flexibly, as long as they meet the Act’s requirements.
• Risk-based approach mandated: Programs must assess and address risks related to money laundering (ML), terrorism financing (TF), and proliferation financing (PF).
• Simplified Customer Due Diligence (CDD) rules: Streamlined requirements for verifying customer identity and assessing risk.
• Occupation and source of wealth insights: Encouraged as part of a more holistic risk profile.

At GBG, our commitment to supporting compliance is longstanding. For over 20 years we have consistently adapted alongside regulatory shifts, listening to our clients and refining our solutions to meet their evolving needs. The latest regulatory changes reinforce the importance of strong foundations in Customer Due Diligence and KYC, values that are embedded in how we partner with our customers.

To support this shift, we provide advanced solutions that combine hundreds of attributes collected throughout the customer verification process, to build a comprehensive AML risk profile. These include identity verification outcomes, meta data, screening of politically exposed persons (PEPs), sanctions and adverse media, and fraud indicators from our proprietary Trust Network.

Importantly the inputs and thresholds are fully customisable, allowing business to align risk scoring with their unique policies, industry needs and operational contexts. This results in adaptive, context-aware compliance that evolves with the organisation.

Our approach is designed to help organisations stay ahead - integrating compliance seamlessly into their workflows and enabling confident responses to regulatory changes. As the landscape continues to develop, GBG remains a trusted partner, committed to delivering practical, future-ready solutions that build resilience and ensure long-term compliance.

Contact GBG for more information.