AUGUST 17, 2017
Australia announced a bill on Thursday to strengthen its money laundering laws, including bringing bitcoin providers under the remit of AUSTRAC, the government’s financial intelligence unit.
This would be the first stage of reforms to strengthen the country’s Anti-Money Laundering And Counter Terrorism Financing Act, Minister of Justice Michael Keenan said in a press release.
The bill also aims at bolstering AUSTRAC’s investigation and enforcement powers, just days after the agency accused the Commonwealth Bank of Australia (CBA.AX) of “serious and systemic” breaches of money laundering laws.