Question Time AU

Bill Debate · Second Reading

Anti-Money Laundering and Counter-Terrorism Financing Amendment Bill 2026; Second Reading

House of Representatives · Wednesday 16 September 2026

Continued from Thursday 10 September 2026.

Official Hansard for this day (APH) · Read this debate on OpenAustralia

At a glance

The debate focused on reforms to strengthen Australia's anti-money laundering and counter-terrorism financing framework, specifically targeting high-risk mechanisms like cryptocurrency ATMs. Labor members argued that the bill addresses the convergence of serious crime threats and provides necessary tools for AUSTRAC to restrict risky financial channels. The legislation also updates definitions regarding state sponsors of terrorism and clarifies obligations for reporting entities. The bill was passed at the second reading stage, with the Assistant Minister noting that government amendments based on committee recommendations would follow.

Outcome

The bill was read a second time.

Summary in reported speech - not a transcript. AI-generated, so check the official record before quoting.

How the debate unfolded

Continued the debate

Sam Lim (Tangney) (Australian Labor Party) ALP

Lim supported the bill, citing warnings from security agencies about the interconnected nature of terrorism, organised crime, and money laundering. Lim highlighted the rapid growth of crypto ATMs in Australia, noting that cash transactions through these machines are difficult to trace compared to bank transfers. Drawing on experience as a police officer, Lim argued that the reforms would allow AUSTRAC to restrict high-risk products while maintaining a flexible, risk-based approach. Lim also noted that the bill updates the definition of terrorism financing to include state sponsors and clarifies due diligence requirements for businesses.

Government response

Julian Hill (Assistant Minister for Citizenship, Customs and Multicultural Affairs) ALP Bruce

Hill commended the bill, stating it empowers the minister to restrict or prohibit high-risk mechanisms exploited by criminal actors. Hill identified crypto ATMs as a primary target, noting their use in scamming vulnerable Australians and disguising criminal profits. Hill explained that the reforms aim to harden the financial environment against criminals by raising the risks and consequences of their activities. Hill foreshadowed moving government amendments later in the process, reflecting recommendations from the Parliamentary Joint Committee on Intelligence and Security.