AUSTRAC’s financial intelligence has been central to 2 recent multi-agency operations that dismantled organised crime networks and disrupted the flow of illicit tobacco profits back into criminal enterprise.
Operation Bear – Queensland
AUSTRAC has issued Revolut Payments Australia Pty Ltd (Revolut) with an infringement notice totalling $187,800 after the company notified AUSTRAC it had submitted late reports.
Thanks you very much for the opportunity to speak with you this morning. Id like to acknowledge that we are here on the lands of the Gadigal people and I pay my respects to their country, elders and their heritage.
Thank you for the invitation to speak as part of this regulatory series. I am pleased to join my other regulator colleagues who have spoken previously. I am addressing you today here on Gadigal land. I extend my respects to any elders present and acknowledge the traditional owners of the land, past and present, and their unbroken connection to country.
AUSTRAC has directed Binance Australia to appoint an external auditor after identifying serious concerns with the crypto exchange’s anti-money laundering and counter terrorism financing (AML/CTF) controls.
Investbybit Pty Ltd, Binance Global’s Australian arm, is an AUSTRAC registered digital currency exchange provider.
AUSTRAC is conducting research to understand businesses’ readiness for upcoming changes to the Anti-Money Laundering and Counter-Terrorism Financing Act (AML/CTF Act).
AUSTRAC is encouraging inactive remittance businesses to voluntarily withdraw their registrations or risk cancellation.
More than 900 independent remittance businesses are registered with AUSTRAC but a large proportion could be inactive.
Today, I want to talk about the future of Australia’s Anti-Money Laundering and Counter-Terrorism Financing regime and what the upcoming changes mean for all of you, as leaders in the real estate sector.
AUSTRAC has launched Federal Court civil penalty proceedings against Mount Pritchard District and Community Club (Mounties), for alleged serious and systemic non-compliance with Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) laws.
AUSTRAC has finalised the Enforceable Undertaking (EU) with National Australia Bank (NAB) after the bank satisfied its obligations under the agreement.