The bill, if passed, will help fulfill a nearly 16-year-old commitment to bring gatekeeper professions within Australia's AML regime, and require the establishment of a public UBO register.
February 14, 2022Areas of AML/CFT policy that urgently need more attention are virtual assets, implementation effectiveness, beneficial ownership, and DNFBPs.
September 22, 2021Lawyers, real estate agents, investment advisers, and bank employees have repeatedly facilitated money laundering through US real estate by HNWIs and PEPs.
August 13, 2021Sight unseen real estate purchases are an attractive method of money laundering and terrorism financing, the Department of Internal Affairs says.
July 13, 2021The inquiry will examine the impacts of bringing DNFBPs into scope under Australia's AML/CTF regime, including AUSTRAC's capacity to regulate 100,000 more entities.
June 25, 2021The "Unifying Framework" published this month sets out five core practices for gatekeepers to use to identify and respond to potential illicit activity.
June 16, 2021The government will consider capping fees and the introduction of a minimum rate of return for class action members.
June 3, 2021Under draft rules, accredited businesses would be able to share CDR data with their agents, or sponsor other parties to become accredited.
May 6, 2021In a letter to Janet Yellen, two lawmakers have called for AML obligations to be expanded to hedge funds, private equity, and other professional enablers.
May 6, 2021Of the 40 recommendations, New Zealand is 'Compliant' on 8, 'Largely Compliant' on 20, and 'Partially Compliant' on 12.
April 30, 2021