🚨 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.