Tag: AUSTRAC

Australia’s overhaul of its anti-money laundering (AML) regime is set to intensify, with the passage of the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Amendment...

In 2024, Nasdaq reported that more than $3.1tn in illicit funds circulated through the global financial system, with much of it hidden using so-called ‘money mules’.

Australia is moving to overhaul its anti-money laundering and counter-terrorism financing (AML/CTF) framework with a comprehensive new proposal aimed at aligning the country with global standards set by the Financial Action Task Force (FATF).

In today's digital landscape, the importance of identity verification extends beyond mere procedure; it's a critical safeguard against escalating fraud risks.

AUSTRAC, collaborating with the AFP and the Australian Border Force (ABF), has introduced a new financial crime guide.

Anti-money laundering (AML) strategies in the wealth and asset management (WAM) sector are undergoing significant transformations to combat financial crimes more effectively.

In an era where regulatory oversight of the wealth and asset management sector is intensifying globally, the stakes for compliance have never been higher. This sector, pivotal to national economies, plays a crucial role in helping consumers manage their assets and achieve their financial goals. However, its significance also makes it a potential target for misuse by malicious entities aiming to launder money.

Moody's Analytics recently put a spotlight on the ongoing ultimate beneficial ownership (UBO) rule enhancements in the Asia Pacific region.

Australia is expected to reveal the details of its updated Tranche 2 anti-money laundering (AML) and counter-terrorism financing (CTF) laws towards the end of...

AUSTRAC has released two financial crime guides to aid companies stop ransomware attack payments and the criminal abuse of digital currencies.