May 26 • ⚖️ Compliance (AU)
Compliance for Bookkeepers
🚨 AML/CTF Update for Bookkeepers — Don’t Panic
What does AML stand for? Anti Money Laundering
What does CTF stand for? Counter Terrorism Financing
AUSTRAC Australian Transaction Reports and Analysis has confirmed that if you’re a BAS Agent/bookkeeper making client payments as part of your normal bookkeeping, payroll or AP work, this is not a designated service. So most bookkeepers will not need to enrol under AML (Anti‑Money Laundering) / CTF (Counter‑Terrorism Financing) rules. For now: Don’t rush to enrol out of fear Do review your engagement letters + banking authorities Keep your approval processes tight Breathe. We’re okay — and clearer info is coming.
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Compliance for Bookkeepers
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