Criminals frequently try to conceal where their illicit gains come from. Illicit finance is at the heart of severe and organized crime, which cost Australia up to A$60.1 billion in 2020–21 and undermines legitimate markets, safety, and well-being. While terrorism financing supports both legal and illicit risks to national and international security, money laundering conceals the source of illicit funds. Transactions aimed at facilitating the spread of WMDs are referred to as proliferation financing. According to AIC and AUSTRAC research, organizations involved in money laundering inflict more than twice as much harm as those that do not, with each year of successful laundering resulting in a 49% increase in harm to the community. Australia’s Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) provides a strong framework to combat these risks.