First AML

EY and First AML are teaming up to help businesses prepare for Australia’s upcoming Tranche 2 AML/CTF regulations. Together, we’re combining our financial crime capabilities and experience, to educate the market on how to better manage financial crime risks at a lower cost. Through our collaboration with EY we will be rolling out a free webinar series to assist law firms, real estate agents and accounting firms to navigate the new Tranche 2 AML/CTF regulations with local and international insights. Together, we are enabling businesses to Shape the Future with Confidence, providing a model for AML compliance that is streamlined, cost-effective and ready for what’s next. Massive thanks to the Financial Crime team at EY and Matt Kennedy and Nick Davison for getting this collaboration off the ground. If you’d like to register for this educational series and more Australian Tranche 2 content sign up here! https://lnkd.in/gUi57GDe

With the upcoming AML/CTF Tranche 2 reforms law firms will need all the time and help they can get to prepare. This whitepaper breaks down the practical implications of these reforms and is a must-read to stay ahead of the curve. Proactive preparation isn't just about avoiding risks—it's about positioning your firm as a forward-thinking, client-centric organisation.

Last week AUSTRAC published draft AML/CTF Rules for consultation. It's a very dense document, especially for entities who are new to AML. So we've created this practical break down of the draft rules for clarity and understanding. The commentary in this article is based on the rules as they are currently drafted and we give examples based on equivalent rules in the UK and New Zealand. Once final rules are agreed we will release an updated version.  https://lnkd.in/gaXBGFqS #aml #tranche2

Great recommendations Luke Raven! Here are some others we enjoy too. Synopsis are thanks to Goodreads - American Kleptocracy: How the U.S. Created the World's Greatest Money Laundering Scheme in History by Casey Michel Casey examines the United States’ implosion into a center of global offshoring: how states like Delaware and Nevada perfected the art of the anonymous shell companies, how post-9/11 reformers watched their success usher in a new flood of illicit finance directly into the U.S. and how dirty money has now begun infiltrating America's universities, think tanks and cultural centers. It also looks at how Trump’s presidency accelerated all of the trends already on hand, last time he was in power. - Living Your Best Compliance Life: 65 Hacks and Cheat Codes to Level Up Your Compliance Program by Mary Shirley This manifesto for Living Your Best Compliance Life contains carefully curated tips and takeaways for optimum impact and immediate action, at low or no investment. The author also provides detailed instructions while also coaching you to ask the right questions of yourself, and colleagues, to succeed. - Tracers in the Dark: The Global Hunt for the Crime Lords of Cryptocurrency by Andy Greenberg With unprecedented access to the major players in federal law enforcement and private industry, veteran cybersecurity reporter Andy Greenberg tells an astonishing saga of criminal empires built and destroyed. - Freezing Order: A True Story of Money Laundering, Murder, and Surviving Vladimir Putin's Wrath by Bill Browder Bill Browder returns with another gripping thriller chronicling how he became Vladimir Putin’s number one enemy by exposing Putin’s campaign to steal and launder hundreds of billions of dollars and kill anyone who stands in his way. - Moneyland: Why Thieves And Crooks Now Rule The World And How To Take It Back. By Oliver Bullough Join the investigative journalist Oliver Bullough on a journey into Moneyland - the secret country of the lawless, stateless super rich. - Butler to the World: How Britain Helps the World's Worst People Launder Money, Commit Crimes, and Get Away with Anything. Also by Oliver Bullough Butler to the World reveals how the UK took up its position at the elbow of the worst people on Earth: the oligarchs, kleptocrats and gangsters.

Big news! Australia’s AML/CTF Amendment Bill 2024 has been passed by Parliament last Friday 29 Nov, marking a major step forward in combating financial crime. The AML/CTF Amendment Bill extends rules to lawyers, accountants, real estate agents, and dealers in precious metals. This reform signals greater accountability in high-risk sectors, making it vital to identify risks and spot red flags. This Wed 4 Dec, join financial crime expert Luke Raven and First AML CEO Milan Cooper for an insightful session exploring the key warning signs of money laundering in professional services. This will be the last in the Tranche 2 webinar series for the year. Don't miss out - register here: https://lnkd.in/gTNTX-kK --- #financialcrime #austrac #amlcompliance #compliance #amlctf #antimoneylaundering #amla #tranche2 #tranche2reforms

With the AML bill being passed yesterday by the senate, this is a very timely reminder that the transition to Tranche 2 reforms isn't just a checkbox exercise—it's a fundamental reshaping of risk management for Australian law firms. Highly recommend downloading the whitepaper for anyone serious about getting ahead of these reforms, rather than playing catch-up when enforcement begins. Remember that July 2026 is the finish line. The race starts today.

Great to see our cofounder Bion Behdin featured in the Financial Accountant by the The Institute of Financial Accountants, discussing the Starling Bank fine and its implications for small businesses. Bion's insights underscore the importance of futureproofing AML systems for fast-growing companies, particularly in highly regulated industries. Read the full article to learn more about how small businesses can stay ahead of AML challenges: https://lnkd.in/evXu3C7d

Last calls for our final Tranche 2 webinar for 2024! We'll be going beyond the basics with financial crime expert Luke Raven (LinkedIn Top Voice). We're pulling back the curtain on how criminals really exploit professional services – and how to stop them. What you'll discover: ✓ The psychology behind why criminals target professional firms ✓ Industry-specific red flags across legal, accounting & real estate ✓ Your action plan when suspicions arise ✓ Battle-tested protection strategies ✓ Eye-opening case studies you won't forget Secure your spot: https://lnkd.in/gTNTX-kK #AML #FinancialCrime #ProfessionalServices #Compliance #RiskManagement