This topic outlines new AML/CTF legislative requirements, applying from 31 March 2026, on AML/CTF governance which emphasize enhanced accountability and oversight at the board and senior management levels.

It sets out the legal obligations and AUSTRAC's expectations about how the governance structure should be developed and implemented.

The topic covers:
* Governance structure
* The governing body's obligations
* Senior Managers -obligations and accountability
* The AML/CTF Compliance Officer's role

This topic draws upon AUSTRAC’s online resource, ‘Summary of Changes for Current Reporting Entities’ and the Explanatory Memorandum to the AML/CTF Amendment Act 2024 to explain the governance obligations.

This topic cannot be taken as legal advice.