Judicial review
The bill may limit court review of AUSTRACHead of Australia’s financial intelligence and anti-money laundering regulator. decisions and use no-invalidity clauses.
Anti-Money Laundering and Counter-Terrorism Financing Amendment
Current status
This bill is currently before Parliament.
Policy area
Budget, tax & economy
What does this bill do?
The bill gives AUSTRACHead of Australia’s financial intelligence and anti-money laundering regulator. a new power to restrict or ban reporting entities from using certain high-risk products, services, delivery channels or other tools to provide regulated services, such as a cryptocurrency ATM.
Why was it introduced?
Financial crime risks are evolving, creating ongoing money-laundering and terrorism-financing threats and exposing high-risk mechanisms such as cryptocurrency ATMs. The bill lets the AUSTRAC CEOHead of Australia’s financial intelligence and anti-money laundering regulator. restrict or ban use of high-risk products, services or delivery channels in regulated financial services, and makes related technical AML/CTFAnti-money laundering and counter-terrorism financing. amendments.
Broader context
By Jun 2025, Crypto ATM conditions imposed. 12 linked events in total — see the timeline below.
Key criticism
The main concern was that the bill may affect personal rights and weaken review of AUSTRACHead of Australia’s financial intelligence and anti-money laundering regulator. decisions, including questions about judicial review and no-invalidity clauses. Those issues were raised in scrutiny commentary, while the main parliamentary committee had only just started its review and the bill was otherwise supported in debate.
Who supported it?
The Labor government introduced this bill. Supportive speeches so far have come from Labor.
Introduced in House 12 Mar 2026
At second reading in House 12 Mar 2026
Not yet reached Senate —
Not yet law —
Did it become law?
Not yet
Final passage
No final vote yet
The bill has not yet completed passage through Parliament.
Days since introduction
90 days
Updated 10 June 2026.
Meaning
What does this bill do?
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The bill gives AUSTRACHead of Australia’s financial intelligence and anti-money laundering regulator. a new power to restrict or ban reporting entities from using certain high-risk products, services, delivery channels or other tools to provide regulated services, such as a cryptocurrency ATM.
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Before AUSTRACHead of Australia’s financial intelligence and anti-money laundering regulator. uses this power, it must consider specified public-interest matters, consult for at least 30 days, and make the decision through a legislative instrumentA legally binding rule made under an Act, subject to parliamentary oversight. that Parliament can disallowFormally reject a legislative instrument so it stops having effect..
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The bill updates the definition of terrorism financing so it also covers new Criminal Code offences for financing a state sponsor of terrorism.
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It also allows regulations to include certain offences under UN Charter and autonomous sanctions laws in the terrorism-financing definition, including offences linked to UN Security Council Resolution 1267 and later related resolutions.
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The bill also makes technical changes aimed at helping businesses comply with AML/CTFAnti-money laundering and counter-terrorism financing. rules while strengthening the regime against criminal misuse.
Show source excerpts
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Schedule 1 of the Bill contains amendments related to regulating the use of high-risk mechanisms. Under the new framework, the AUSTRAC CEO will be empowered to restrict or prohibit, by legislative instrument, a reporting entity from using a high-risk mechanism to provide a designated service. For example, exchanging money for virtual assets via a cryptocurrency ATM.
Explanatory memorandum -
The new framework will require the AUSTRAC CEO to take into account specific matters when considering whether a restriction or prohibition is necessary in the public interest. It will also mandate a minimum 30-day consultation period with the public and other affected agencies before the AUSTRAC CEO makes a decision. Any decision to restrict or prohibit a high-risk mechanism is to be made via legislative instrument to enable parliamentary oversight via the disallowance process.
Explanatory memorandum -
Schedule 2 will amend the meaning of financing of terrorism in section 5 of the AML/CTF Act to reference new offences introduced into the Criminal Code Act 1995 by the Criminal Code Amendment (State Sponsors of Terrorism) Act 2025 for financing a state sponsor of terrorism.
Explanatory memorandum -
The amended definition will also enable regulations to be made that prescribe offences against the Charter of the United Nations Act 1945, offences against the Autonomous Sanctions Act 2011, or regulations made under those Acts. This will enable offences against United Nations Security Council Resolution 1267 and its successor resolutions to be prescribed for the purposes of the definition of financing of terrorism. These were removed from the definition of financing of terrorism in 2008 following changes to the Charter of the United Nations Act 1945.
Explanatory memorandum -
The Bill contains a range of measures to ensure Australia’s AML/CTF regime continues to effectively deter, detect and disrupt illicit financing, and protect Australian businesses from criminal exploitation. This includes several technical amendments to better support businesses to implement their obligations under the AML/CTF regime.
Explanatory memorandum
Context
Broader context for this bill
By Jun 2025, Crypto ATM conditions imposed. 12 linked events in total — see the timeline below.
- 10 Dec 2024
AML/CTFAnti-money laundering and counter-terrorism financing. reform act receives assent
Parliament enacted the 2024 AML/CTFAnti-money laundering and counter-terrorism financing. reform package, which overhauled customer due diligenceChecks businesses must do to verify customers and assess money laundering risks., reporting groups and tranche 2 coverage ahead of the 2026 rollout.
Federal Register of Legislation ↗ - 03 June 2025
Crypto ATM conditions imposed
AUSTRACHead of Australia’s financial intelligence and anti-money laundering regulator. imposed a $5,000 cash limit and other conditions on crypto ATM operators after its taskforce found the machines were being used for scams, fraud and money laundering.
AUSTRAC ↗ - 25 June 2025
90 prolific users identified
AUSTRACHead of Australia’s financial intelligence and anti-money laundering regulator. and police identified 90 prolific crypto ATM users in a joint operation, with most judged to be scam victims or money mules.
AUSTRAC ↗ - 03 July 2025
AUSTRACHead of Australia’s financial intelligence and anti-money laundering regulator. sets reform expectations
The reforms would start on 31 March and 1 July 2026 and told businesses to prepare implementation plans ahead of Australia's 2026 FATF mutual evaluation.
AUSTRAC ↗ - 29 Aug 2025
New AML/CTFAnti-money laundering and counter-terrorism financing. Rules tabled
AUSTRACHead of Australia’s financial intelligence and anti-money laundering regulator. tabled the new AML/CTFAnti-money laundering and counter-terrorism financing. Rules in Parliament after consultation, giving effect to the 2024 reforms and setting the staged commencement timetable.
AUSTRAC ↗ - 16 Oct 2025
High-risk mechanism power proposed
The home affairs minister said he would seek a new AUSTRACHead of Australia’s financial intelligence and anti-money laundering regulator. power to restrict or ban high-risk products, services and delivery channels, with crypto ATMs cited as an example.
AUSTRAC ↗
Legislative route
How did it move through Parliament?
House Senate
Introduced 12 Mar 2026
The bill was formally presented to the chamber and read a first time, which starts its parliamentary journey.
Introduced and read a first time
Second reading opened 12 Mar 2026
A minister or sponsoring member moved the second reading, opening the main debate on the bill's purpose and principles.
Second reading moved
Scrutiny of Bills review: raised rights and liberties 25 Mar 2026
Senate Standing Committee for the Scrutiny of BillsSenate committee that examines bills for impacts on rights, liberties and parliamentary scrutiny. considered the bill in Scrutiny Digest 5 of 2026A published report where the Scrutiny of Bills committee comments on bills. on 25/03/2026. It raised personal rights and liberties and review of decisions issues, including availability of judicial review – no-invalidity clausesCourt review of decisions, including rules saying some legal errors do not invalidate them., and sought a ministerial response.
Considered in published report
Scrutiny Digest 5 of 2026Intelligence and Security review: opened inquiry 30 Mar 2026
The Parliamentary Joint Committee on Intelligence and SecurityParliamentary committee that reviews intelligence, security and related legislation and administration. has commenced a review of the bill following its referral to the committee.
Referred
Parliamentary Joint Committee on Intelligence and SecurityKey criticism
The main case against this bill
The main concern was that the bill may affect personal rights and weaken review of AUSTRACHead of Australia’s financial intelligence and anti-money laundering regulator. decisions, including questions about judicial review and no-invalidity clauses. Those issues were raised in scrutiny commentary, while the main parliamentary committee had only just started its review and the bill was otherwise supported in debate.
The available criticism was procedural and safeguard-focused, not a broad rejection of the bill.
Rights impact
The scrutiny committee said the bill raised personal rights and liberties issues.
Further sources
Votes
Recorded votes
No recorded votes have been found yet for this bill.
Parliamentary debate
Who spoke, and what they said
Start here — lead voices
Sponsor speech Supports
Matt Thistlethwaite
The speaker supports the bill as a response to emerging money-laundering and terrorism-financing risks, especially the misuse of crypto ATMs and other high-risk mechanisms.
Read in Hansard ↗All speeches by bloc
Labor
1 speaker · 1 support
Labor
1 speaker · 1 support
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Thistlethwaite ★ The speaker supports the bill as a response to emerging money-laundering and terrorism-financing risks, especially the misuse of crypto ATMs and other high-risk mechanisms.
“I commend the bill to the House.”
Read the full speech in Hansard ↗
Record
Full record
- Introduction to latest chamber step
- 0 calendar days -- Introduced on 12 Mar 2026. Latest recorded chamber step was Second reading moved on 12 Mar 2026. Committee and scrutiny activity may continue separately.
- Introduction to assent
- Unknown
- Recorded divisions found
- 0 -- No directly attributable divisions have been extracted yet.
- Second reading chambers captured
- House of Representatives
- Same-day passage through both Houses
- Not yet -- The bill has not yet completed passage through both Houses.
- 12 Mar 2026
House · Introduced and read a first time
Introduced
The bill was formally presented to the chamber and read a first time, which starts its parliamentary journey.
- 12 Mar 2026
House · Second reading moved
Second reading opened
A minister or sponsoring member moved the second reading, opening the main debate on the bill's purpose and principles.
Senate Standing Committee for the Scrutiny of Bills
Considered in published report
Senate Standing Committee for the Scrutiny of Bills considered the bill in Scrutiny Digest 5 of 2026 on 25/03/2026. It raised personal rights and liberties and review of decisions issues, including availability of judicial review – no-invalidity clauses, and sought a ministerial response.
Considered by scrutiny committee (25 Mar 2026): Senate Standing Committee for the Scrutiny of Bills; Scrutiny Digest 5 of 2026
Scrutiny Digest 5 of 2026Parliamentary Joint Committee on Intelligence and Security
Referred
The Parliamentary Joint Committee on Intelligence and Security has commenced a review of the bill following its referral to the committee.
Referred to Committee (30 Mar 2026); Parliamentary Joint Committee on Intelligence and Security
Parliamentary Joint Committee on Intelligence and Security