Australia has recently extended its anti-money laundering regulations to include real estate agents and dealers of precious stones. This expansion of the regulatory framework aims to address concerns about the use of illicit funds in these sectors.

The Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Amendment Bill 2024 was passed through parliament to enable this change. The new regulations will also apply to lawyers, accountants, and company service providers, with the goal of enhancing oversight and reducing the risks associated with money laundering and terrorism financing in areas of the economy that are considered high-risk.