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Room to improve AML/CTF Systems and Controls – Our take on AUSTRAC’s Risk Assessment
25 Oct 2017
Alexa Bowditch
Previously a Lawyer at Holley NethercoteIn July 2017, AUSTRAC released its latest money laundering and terrorism financing (ML/TF) risk assessment which focuses on the securities and derivatives sector. Similar to past risk assessments released…...
Read moreComplying with your AML/CTF obligations
12 Feb 2020
Naomi Fink
Special CounselAUSTRAC Action: The Westpac Case AML/CTF obligations - A case study: Australian Transaction Reports and Analysis Centre (AUSTRAC) made national and international headlines on 20 November 2019, when it applied…...
Read moreWhat is an AML/CTF Program and do I need a Risk Assessment?
08 Sep 2020
Naomi Fink
Special CounselDo I need an AML/CTF Program? Yes - if you are a “reporting entity” and you provide a “designated service” in connection with Australia that meets the “geographical link” test…...
Read moreKeeping your AML/CTF Program up-to-date
01 Apr 2021
Naomi Fink
Special CounselOutsourcing KYC obligations If you are bound by the Australian Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) legislation[1], (that is, you are a “reporting entity”), you must have in place policies…...
Read moreWhat’s the difference between a standard AML program and one that a financial adviser needs (also called a “special program”)?
16 Feb 2022
Naomi Fink
Special CounselIf a business or entity provides one or more designated services (listed in section 6 of the AML/CTF Act) and is geographically linked to Australia, it will be required to…...
Read moreOur Submission to Consultation Paper: Modernising Australia’s AML/CTF regime
08 Jun 2023
Katherine Temple
Senior AssociateDear Director, RE: Modernising Australia’s AML/CTF regime Thank you for the opportunity to provide feedback on proposed reforms to Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) regime. We support improvements…...
Read moreDo I need an AML Licence in Australia?
24 Nov 2023
Rachel Erlich
Special Counsel“Do I need an AML Licence in Australia?” is a commonly asked question. You might be surprised to learn that there is in fact no such thing as an Australian…...
Read moreChanges to AML/CTF – what does it mean for current reporting entities?
08 Jun 2024
Naomi Fink
Special CounselApproximately 17 years after the introduction of the Australian AML/CTF regime, the government has embarked on the much-anticipated process of expanding the reach of the regime to a number of…...
Read moreWhy your AML/CTF Program needs to be independently reviewed regularly
18 Feb 2025
Naomi Fink
Special CounselIf you are a business that will be regulated in 2026 under Tranche 2 of the AML/CTF reforms, we can help you stay up to date as the reforms progress,…...
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