EY and First AML collaborate to prepare Australia for Anti-Money Laundering reforms

Sydney, Australia – Ernst & Young and First AML, a leader in anti-money laundering (AML) compliance technology, are delighted to announce a series of events focused on helping businesses successfully navigate Australia’s upcoming ‘Tranche 2’ AML/CTF regulations. This collaboration reflects a shared commitment to combat financial crime in Australia through providing smarter, cost-effective solutions that focus on effectiveness and outcomes. 

"Together, we’re not only driving innovation but also simplifying compliance at scale, enabling organisations to better manage risk while reducing cost and complexity."

- Nick Davison, Partner, EY Oceania Financial Crime Leader

Key Highlights of the Collaboration

The firms will focus initially on educating the market together, providing free, practical guidance to help businesses prepare for regulatory changes.

EY’s renowned global financial crime capability pairs seamlessly with First AML’s cutting edge AML platform to empower businesses to:  

• Streamline effective AML/CTF compliance as regulatory requirements expand.  
• Lower costs and reduce time spent on complex entity verification.  
• Mitigate reputational and security risks with confidence.  

Nick Davison, Partner, EY Oceania Financial Crime Leader, commented, “We are delighted to work with First AML to support businesses during such a critical regulatory shift. Together, we’re not only driving innovation but also simplifying compliance at scale, enabling organisations to better manage risk while reducing cost and complexity.” 

Milan Cooper, CEO of First AML, added, “Collaborating with EY allows us to align our deep AML expertise and technology with EY’s trusted leadership. Together, we’re committed to helping businesses embrace a better working model for AML compliance—one that’s efficient, cost-effective, and ready for the evolving regulatory landscape.”  

This collaboration arrives at a pivotal moment as Australia moves toward Tranche 2 regulation, with an 18-month deadline requiring previously unregulated sectors to comply with expanded AML/CTF obligations.

By working together, EY and First AML aim to educate the market at no cost, empowering organisations with the knowledge and tools needed to shape the future with confidence - successfully navigating regulatory change and effectively reducing financial crime risk for the benefit of society as a whole.

For more information, visit Ernst & Young and First AML