Seven years on: review of the AML/CTF Act - .PDF file.
By Yechiel Belfer
The Australian Transaction Reports and Analysis Centre (AUSTRAC) and the Commonwealth Attorney-General’s Department have released an issues paper as part of the ‘seven-year post-implementation review’ of Australia’s Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) legislative and regulatory regime.
Stakeholders are invited to provide input into the overall operation of the AML/CTF Act and to identify areas of deficiency or possible enhancement with regard to international best practice and Australia’s global AML/CTF obligations. Submissions are due by 28 February 2014.
The government has indicated that it wants to hear about the practical experience of regulated entities and industry sectors operating under the AML/CTF regime…
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