The AML/CTF Amendment Bill is a transformative reform that will change the regulation and management of financial crime risks. The legislation is planned to apply to services provided in Australia and overseas. In just one hour, gain an understanding of the Anti-Money Laundering and Counter-Terrorism Financing Amendment Bill 2024 (Cth) and how it will impact you, the way you offer services and your clients.
Description
Attend and earn 1 CPD unit in Professional Skills
This program is applicable to practitioners from all States & Territories
Professional Skills
1.00pm to 2.00pm AML/CTF Amendment Bill Tranche 2: Implications for New and Existing Reporting Entities
Understanding the Primary Objectives of the AML/CTF Bill
- Expanding the AML/CTF regime to additional high-risk services provided by tranche two entities, including:
- Professional service providers such as lawyers, conveyancers, accountants, and trust and company service providers
- Real estate professionals
- Dealers in precious stones and precious metals
- Modernising the regulation of digital currency, virtual assets and payments technology
- Simplifying and clarifying the AML/CTF regime to increase flexibility, reduce regulatory impacts and support businesses to better prevent and detect financial crime
Likely Practical Impacts on Professional Service Providers – Lawyers, Accountants and Real Estate Agents
- Gain practical insights into the likely impact on stakeholders following the implementation and commencement of the AML/CTF Bill, with a specific focus on the impact on the professional services of lawyers, accountants and real estate professionals
Presented by Andrea Beatty, Partner, Piper Alderman; Author ‘Annotated National Credit Code’, the ‘Australia’ chapters in the ‘Consumer Finance Law Review’ and the ‘Banking Regulation Review‘, and Tim Lyford, Partner Tax Services, William Buck
Presenters
Andrea Beatty, Partner, Piper Alderman
Andrea specializes in financial services, banking, and corporate law, offering expertise in regulatory matters, corporate governance, compliance, and risk management. She helps clients navigate the evolving regulatory landscape to meet customer, shareholder, and regulatory expectations. Andrea designs and conducts financial services training for providers, senior executives, legal and compliance officers, consumer advocates, and lawyers. She advises domestic and foreign institutions on acquiring financial services and credit licenses, structuring businesses, and ensuring compliance with license obligations. Her services include drafting documents, conducting systems audits, and managing online application processes. Andrea also handles regulatory compliance projects, enforcement defenses, and investigations. Her experience covers financial products and channels like FinTech, peer-to-peer lending, crowdfunding, payment systems, cryptocurrency, reward programs, and financial services acquisitions. She has extensive knowledge of privacy laws and advises on data security and breach remediation. Andrea develops and reviews AML/CTF programs and conducts training workshops on credit law, privacy, and anti-money laundering. Widely published, she has authored seven editions of 'Annotated National Credit Code' and contributed to 'Consumer Finance Law Review' and 'Banking Regulation Review.' Andrea is a member of several financial services associations and serves as Deputy Chair of the Law Council Business Law Section Privacy Committee.
Tim Lyford, Partner Tax Services, William Buck
As a Partner in William Buck’s Tax division, Tim has a wealth of knowledge across a wide range of industries, including Private Wealth, Property, Financial Services and Technology. As a Chartered Accountant with over 25 years’ experience, Tim is known by many as a trusted tax advisor with the ability to engage a whole suite of people within the business. He comes from a background of leadership roles, board level experience within Business Tax Services and has a natural ability for and a deep understanding of team management and strategic development. Tim enjoys immersing himself in complex tax issues, channelling his knowledge and experience to assist his clients to overcome these issues. As he describes it, “the language of Tax can often be complex – but it shouldn’t be a barrier to clients, it is a gateway opportunity to simplify and help others understand how Tax risk fits in to your personal and commercial aspirations”. With his approachable nature and high level of engagement across all tax services, Tim is always proud to watch people grow and progress through his mentoring. After heading up a Tax practice in the UK, Tim subsequently made the move to Australia. Here, he uses his global perspectives and technical knowledge to advise on Australian Tax, particularly for overseas residents.
