Changes to Australia’s Privacy Act and money laundering rules have put small businesses at risk of fines and other regulatory action and made digital identity verification a prominent compliance requirement. As of July 1, more than 100,000 small businesses must meet the new reporting and data obligations under changes to the anti-money laundering and counter terrorism financing (AML/CTF) frameworks. The AML and CTF Amendment Bill “strips privacy law exemptions from SMEs in relation to certain ty