19 June 2014
On 20 May 2014, the CEO of the Australian Transaction Reports and Analysis Centre (AUSTRAC) announced changes to customer due diligence rules, which form part of Australia’s anti-money laundering and counter-terrorism financing regime. The regime is intended to protect Australia’s revenue base through enhanced collection and verification of customer information, as well as preventing organised [...]
Continue reading Proposed reform to strengthen Customer Due Diligence – Regulation Impact Statement – AUSTRAC
10 April 2012
On 27 October 2011, the Chief Executive Officer (CEO) of the Australian Transaction Reports and Analysis Centre (AUSTRAC) made Rules under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) to specify the matters the AUSTRAC CEO must take into account to cancel or suspend the registration of a registered alternative remittance dealer.
The AML/CTF [...]
Continue reading Non-compliance with best practice regulation requirements – Cancellation and Suspension of a Remittance Dealer’s Registration – AUSTRAC