Australia Country Summary
Sanctions
Low Concern
FATF AML Deficient List
Low Concern
Terrorism
Low Concern
Corruption
Low Concern
US State ML Assessment
Medium Concern
Criminal Markets (GI Index)
Medium Concern
EU Tax Blacklist
Low Concern
Offshore Finance Center
Low Concern
Please note that although the below Summary will give a general outline of the AML risks associated with the jurisdiction, if you are a Regulated entity then you may need to demonstrate that your Jurisdictional AML risk assessment has included a full assessment of the risk elements that have been identified as underpinning overall Country AML risk. To satisfy these requirements, we would recommend that you use our Subscription area.
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Anti Money Laundering
FATF Status
Australia is not on the FATF List of Countries that have been identified as having strategic AML deficiencies
Compliance with FATF Recommendations
The last Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Australia was undertaken in 2024. According to that Evaluation, Australia was deemed Compliant for 18 and Largely Compliant for 12 of the FATF 40 Recommendations. It remains Highly Effective for 1 and Substantially Effective for 4 with regard to the 11 areas of Effectiveness of its AML/CFT Regime.
Sanctions
There are no international sanctions currently in force against this country
Bribery & Corruption
Rating |
0 (bad) - 100 (good) |
|---|---|
| Transparency International Corruption Index | 77 |
| World Bank: Control of Corruption Percentile Rank | 96 |
Australia has a robust legal framework to combat corruption, characterized by transparent government procurement and active participation in international anti-corruption efforts. The Criminal Code Act 1995 criminalizes bribery of foreign officials, with severe penalties for individuals and corporations. While corruption is generally not seen as a barrier to business in Australia, risks do exist, particularly in foreign bribery and the mining sector.
Economy
Australia's economy is characterized by a strong openness to foreign direct investment (FDI), with the United States being the largest source of such investments, totaling USD 174 billion in 2022. Despite recent changes aimed at enhancing national security through stricter investment screening, the rejection rate for proposed investments remains low, and the economy is projected to grow by 1.5 percent in 2023, supported by a tight labor market and a declining inflation rate.
Australia maintains a generally welcoming investment climate for foreign direct investment (FDI), which is seen as vital for economic growth. The country applies a national interest test through the Foreign Investment Review Board, but the rejection rate for proposed investments remains low, particularly for U.S. investments. Recent government initiatives, including increased funding for clean technology projects and the National Reconstruction Fund, further demonstrate Australia's commitment to attracting foreign investment.
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- Risk Analysis
- Corruption
- Economy
- Sanctions
- Narcotics
- Executive Summaries
- Investment Climates
- FATF Status
- Compliance
- Key Findings
