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Use of business express deposit boxes to avoid reporting requirements
A strategic analysis brief about how serious organised crime groups use business express deposit boxes (BED) boxes and internet banking facilities to avoid your KYC and ongoing customer due diligence…
SMR and digital currency exchange provider webinar recording
The approximately hour-long recording is split into two parts:
Part one – suspicious matter reporting
the value of suspicious matter reporting
the dos and don'ts of…
Designated business groups (DBG)
Examples of IFTI reporting for casinos
When licensed casinos are involved in an international funds transfer (IFTI), they must submit an international funds transfer instruction (IFTI) report to AUSTRAC. An IFTI is an electronic…
AUSTRAC reveals overseas investment scam defrauding Australians
Summary
Romanian authorities became suspicious of a man in Australia who was transferring millions of dollars to a business in Romania. They asked AUSTRAC to investigate the man’s financial…
AUSTRAC links Australian assets to suspects wanted for crimes in China
Summary
Following requests for information from our Chinese counterpart, and law enforcement agencies in Australia and China, AUSTRAC identified a complex international money laundering scheme run…