The Benefits of CCR Post Royal Commission

The Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) reforms are crucial for protecting the financial system from illegal activities. This overview explains the key changes brought about by Tranche 2 detailing essential compliance mandates and effective risk management practices. 

The pace of businesses engaged in construction activity employing more than 5 full time staff entering initial external administration has slowed in the financial year ended June 2024. This is in contrast to the businesses employing less than 5 full time staff which continue to report a higher number of initial external administrations, thus lifting the overall construction business failure levels to record highs.