Australia's financial planning sector

AUSTRAC assessed the overall risk of ML/TF activity as medium. The report found that as financial planners facilitate access to financial services for their customers, this can make them susceptible to exploitation for criminal purposes. It also means planners are well-placed to detect suspicious behaviour by their customers. The report encourages the financial planning sector as a whole to ensure that AML/CTF compliance is a greater part of the organisational culture.

Access individual chapters below or download a PDF version of the risk assessment here (PDF, 2MB)

 

Please note

This risk assessment is intended to provide a summary and general overview; it does not assess every risk or product relevant to the financial planning sector. It does not set out the comprehensive obligations under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act), AML/CTF Regulations and AML/CTF Rules. It does not constitute nor should it be treated as legal advice or opinions. The Commonwealth accepts no liability for any loss suffered as a result of reliance on this publication. AUSTRAC recommends that independent professional advice be sought.

Feedback

AUSTRAC is committed to continual improvement and values your feedback on our products. We would appreciate notification of any outcomes associated with this report by contacting us via riskassessments@austrac.gov.au.

Last modified: 27/04/2017 11:35