The Institute has entered into discussions with government regarding the second tranche of anti-money laundering (AML) and counter terrorism financing (CTF) legislation, which will affect accountants, lawyers, real estate agents and jewellers. An AML Council, consisting of government, the Institute and other stakeholders, has been established to ensure a workable regime is implemented.  
 
In May 2007, the Institute began the consultation process by meeting with the Minister Senator David Johnston this week to raise issues and areas of concern. It is hoped these will be acted upon, given the supportive response during the first tranche consultation. 
 
In September the Institute responded to the list of designated services which the Attorney-General's Department proposed to should be included in the second tranche of AML/CTF legislation. See attached submission and appendix)