Andrew Gee (Calare, National Party, Minister for Decentralisation and Regional Education) Share this | Hansard source

I would like to thank my colleagues for their contributions to the Anti-Money Laundering and Counter-Terrorism Financing and Other Legislation Amendment Bill 2019, including the Senate Legal and Constitutional Affairs Legislation Committee, the Parliamentary Joint Committee on Human Rights and the Senate Standing Committee for the Scrutiny of Bills. Transnational and organised crime costs the Australian community up to $47.4 billion each year. This represents a significant threat not only to our community's safety but also to our national security. The Morrison-McCormack government is committed to combating these threats.

This bill will provide law enforcement with vital new tools while also reducing regulatory costs on industry. The bill will also implement key recommendations of the 2016 statutory review of the Anti-Money Laundering and Counter-Terrorism Financing Act. It will ensure that our law enforcement, intelligence agencies and revenue protection agencies have appropriate and timely access to valuable financial intelligence. The bill will also help these agencies to protect the Australian community in the global fight against organised crime. The bill will criminalise the act of dishonestly taking credit for receiving police awards, ensuring that the bravery and heroism of our police forces can be appropriately honoured. I hereby table an addendum to the explanatory memorandum in response to the comments raised by the Senate Standing Committee for the Scrutiny of Bills.

I commend the bill to the House.

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