AUSTRAC has released new case studies to make you aware of indicators of money laundering, terrorism financing and other serious financial crime.
The case studies include a ‘what to look out for’ section that lists suspicious behaviour and transactions. They also explain how business reporting contributed to the detection and prosecution of offenders.
AUSTRAC considers digital driver licences issued by an Australian state or territory government as independent and reliable documents.
Digital driver licences are being launched across NSW in 2019.
AUSTRAC has ordered the appointment of an external auditor to Afterpay Pty Ltd (Afterpay) to examine its compliance with the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (the AML/CTF Act).
This action has followed a period of ongoing engagement with Afterpay where AUSTRAC has identified concerns with its compliance.
AUSTRAC has filed papers in the Federal Court against three Tabcorp group companies for extensive, significant and systemic non-compliance with Australia’s anti-money laundering and counter-terrorism financing legislation.
The application and statement of claim initiates civil penalty proceedings against Tab Limited, Tabcorp Holdings Limited and Tabcorp Wagering (Vic) Pty Limited.
The 3rd Counter-Terrorism Financing (CTF) Summit organised by Bank Negara Malaysia in partnership with Australia’s financial intelligence agency, AUSTRAC, and Indonesia’s Pusat Pelaporan dan Analisis Transaksi Keuangan (PPATK), will be held in Kuala Lumpur from 20-23 November 2017.
AUSTRAC and its U.S. counterpart, the Financial Crimes Enforcement Network (FinCEN), have today strengthened their alliance in the fight against serious financial crime and terrorism financing.
The Federal Government’s financial intelligence agency, AUSTRAC, has filed a further sixty-one alleged contraventions against Tab Limited, Tabcorp Holdings Limited and Tabcorp Wagering (Vic) Pty Limited adding to current civil penalty court proceedings.
The highest ever civil penalty in corporate Australian history was today ordered against Tabcorp by the Federal Court of Australia.
Travellers into and out of Australia are reminded that it is a legal requirement under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) to declare currency of AUD$10,000 or more (or foreign currency equivalent).