The Financial Action Task Force (FATF), the global group that sets international anti-money laundering and counter-terrorism financing (AML/CTF) standards, has published two recent updates relating to international ML/TF risk.
The reports provide an update on jurisdictions which may pose a risk to the international financial system:
AUSTRAC is working with international partners, as well as Australia’s financial industry and partner agencies across government in a coordinated effort to track the movement of funds around the world and to identify opportunities to jointly target individuals and entities subject to sanctions.
AUSTRAC will today commence civil penalty proceedings in the Federal Court against Crown Melbourne and Crown Perth for alleged serious and systemic non-compliance with Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) laws.
AUSTRAC has ordered the appointment of an external auditor to three entities within the Bell Financial Group, including Bell Potter Securities Limited, Bell Potter Capital Limited and Third Party Platform Pty Ltd.
A new financial crime guide from AUSTRAC will help businesses identify and report suspicious activity related to forced sexual servitude. Forced sexual servitude is a form of slavery and represents around 30% of slavery cases in Australia.
Dr John Moss, Deputy CEO Intelligence, has been awarded the Australian Intelligence Medal for his significant contribution and leadership in the Australian Intelligence Community.
You can submit your 2021 compliance report from 1 January to 31 March 2022.
The report covers important areas of anti-money laundering and counter-terrorism financing (AML/CTF) and helps us to understand how you have been complying with your obligations over the year, and where you may need additional support or guidance.