It has been an exciting time for the Reporting Entity System Transformation (REST) program.
Today AUSTRAC released guidance to banks and superannuation funds to support people from diverse backgrounds and in challenging circumstances access the financial services they need.
Financial institutions require customers to provide identity documents to access their services.
AUSTRAC will today commence civil penalty proceedings in the Federal Court against SkyCity Adelaide Pty Ltd (SkyCity) for alleged serious and systemic non-compliance with Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) laws.
AUSTRAC has commenced civil penalty proceedings in the Federal Court against The Star Pty Limited and The Star Entertainment QLD Limited (the Star Entities) for alleged serious and systemic non-compliance with Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) laws.
AUSTRAC has accepted an Enforceable Undertaking (EU) from two entities in the ING Bank Australia group (ING Bank Australia Ltd and ING Bank N.V., Sydney Branch) to uplift its compliance with Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) laws.
Reporting entities and industry participants are invited to attend a webinar focussing on important updates from the Reporting Entity System Transformation (REST) Program, including changes to AUSTRAC Online that will impact how reporting entities interact with us and fulfil their AML/CTF obligations.
Specifically we’ll be focussing on:
AUSTRAC has partnered with Papua New Guinea’s financial intelligence agency to host the first in person conference of the Pacific Financial Intelligence Community (PFIC), bringing together financial intelligence agencies from across the region.
AUSTRAC has ordered the appointment of external auditors under section 162 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) to assess compliance of two corporate bookmakers, Sportsbet Pty Ltd (Sportsbet) and Hillside (Australia New Media) Pty Limited (Bet365).
A new financial crime guide released by AUSTRAC today will help financial service providers identify and report suspicious transactions indicative of criminals engaging in trade-based money laundering.