AUSTRAC regulates certain business activities in the financial services, bullion, gambling and digital currency exchange sectors. These business activities are called designated services and have been identified because they pose a risk for money laundering, terrorism financing and other serious criminal activities.
If you provide one or more designated services that have a geographical link to Australia, you are a reporting entity and obligations that you must meet under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act).
Below are the major regulatory obligations you must comply with as well as guidance to improve your AML/CTF compliance.
As a reporting entity, you should consider your responsibilities with respect to the following items.
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