Capability of law enforcement to respond to money laundering and financial crime

Terms of Reference

Pursuant to subsection 7(1) of theParliamentary Joint Committee on Law Enforcement Act 2010, the committee will inquire into and report on the capability of law enforcement to respond to money laundering and financial crime, with reference to: - the scale and forms of money laundering and financial crime in Australia, including their effect on the community and the economy, the types of criminal activities they fund, the methods employed by serious and organised crime, and emerging trends and threats; - Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) legislation as well as comparison with other jurisdictions and the international standards set by the Financial Action Task Force; - whether existing criminal offences and law enforcement powers and capabilities are appropriate to counter money laundering, including challenges and opportunities for law enforcement, such as those relating to emerging technologies; - the effectiveness of collaboration, coordination and information sharing between Commonwealth agencies, including law enforcement, and with authorities in other jurisdictions and the private sector; - the role and response of businesses and other private sector organisations, including their level of awareness, assistance to law enforcement, and initiatives to counter this crime; - the operation of unexplained wealth and asset recovery legislation, the Criminal Assets Confiscation Taskforce, and the Confiscated Assets Account; and - any related matters. Note: On 31 July 2025, the Parliamentary Joint Committee on Law Enforcement re-referred this inquiry from the 47th Parliament, and amended the Terms of Reference (ToR) for the inquiry in the 48th Parliament to remove previous ToR (c) which related to the 'tranche two reforms'. Committee SecretaryParliamentary Joint Committee on Law EnforcementPO Box 6100Parliament HouseCanberra ACT 2600Phone:+61 2 6277 3419le.committee@aph.gov.au