Anti-Money Laundering

All businesses in the financial services industry, from banks to financial institutions and investment firms to money transfer businesses, must implement a robust anti-money laundering and counter-terrorism financing (AML/CTF) program to ensure any suspected money laundering activities are prevented and reporting where necessary. 

To stamp out corruption and potential terrorist financing, compliance with AML/CTF rules and regulations is imperative. Financial services organisations must include customer due diligence measures, transaction monitoring, risk assessments and reporting, or face severe penalties and even criminal charges. As there has been significant regulatory enforcement activity in this area in recent years, high-quality advice is critical.

We have extensive experience in advising financial services clients on the application of anti-money laundering laws, including the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act).

We advise on AML/CTF rules, as well as Australia’s sanctions laws. We also help our clients navigate anti-corruption laws when engaging in Australian and cross-border business transactions.

Our AML/CTF legal experts can help you with the following:

• providing regulatory advice about the application of relevant laws.
• enrolling with AUSTRAC as a reporting entity, registering as a provider of designated remittance services or signing up to the Digital Currency Exchange Register.
• drafting or reviewing anti-money laundering and counter-terrorism financing programs and sanctions policies.
• conducting an independent review of Part A of anti-money laundering and counter-terrorism financing programs.
• advising and representing on regulator enforcement or surveillance activity.