With the development of anti-money laundering regulations and increased complexity in daily commercial transactions in Australia, our lawyers are able to advise clients, business owners, financial service providers, and investors of their compliance obligations under the anti-money laundering regulations.
Since the introduction of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, many clients now have reporting obligations with AUSTRAC, the regulatory body appointed to oversee the operation of the anti-money laundering laws. Mills Oakley is able to provide guidance on an on-going basis to clients including advice in the following areas:
• Assessing compliance requirements with anti-money laundering regulations;
• Establishing Compliance Programs;
• Submitting Compliance Reports;
• Carrying out customer due diligence including “know your client” requirements; and
• Record keeping requirements.