Australia; Report on the Observance of Standards and Codes: FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism

The report provides a summary of the Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) measures in place in Australia. It describes and analyzes those measures, and provides recommendations on how certain aspects of the system could be strengthened. Under the Financial Transactions Reports (FTR) Act 1988, cash dealers submit a range of financial transaction reports to AUSTRAC, including reports on suspicious transactions (SUSTRs) and international fund transfers. Australiaâ€™s legislative framework does not distinguish between financial institutions or specify AML/CFT obligations for financial institutions on the basis of risk. The FTR Act also applies outside Australia.

MoreLess

Year of publication:	2006-11-20
Institutions:	International Monetary Fund (IMF) ; International Monetary Fund
Subject:	Combating the financing of terrorism \| Financial institutions \| Reports on the Observance of Standards and Codes \| money laundering \| terrorist \| terrorist financing \| law enforcement \| terrorism \| terrorist organisations \| beneficial ownership \| financing of terrorism \| administrative sanctions \| terrorist acts \| cash transactions \| legal assistance \| due diligence \| shell banks \| competent authorities \| internal controls \| customer identification \| suspicious transactions \| dual criminality \| transaction reports \| reporting obligations \| terrorism financing \| wire transfer \| money laundering offence \| terrorists \| financial transaction \| financial transactions \| criminal activity \| suspicious transaction \| legal arrangements \| money launderers \| money laundering cases \| civil forfeiture \| suspicious transaction report \| banking relationships \| foreign branches \| prudential regulation \| account number \| predicate offences \| control information \| law enforcement information \| international funds transfers \| financial intelligence unit \| legal assistance requests \| business relationships \| criminal law \| share information \| investigative techniques \| criminal sanctions \| funds transfers \| exchange information \| law enforcement agencies \| negotiable instruments \| financial sector supervisors \| life insurance \| identification data \| audit function \| counter-terrorism \| large cash transactions \| united nations security \| information exchange \| suspicious activity \| international agreements \| customer identity \| compliance officer \| market integrity \| laundered property \| money remittance \| value transfer \| enforcement powers \| anti-terrorism \| financial intermediaries \| suspicious transaction reporting \| confiscation legislation \| secure techniques \| money remitters \| beneficial owners \| business relations \| alternative remittance \| customer identification requirements \| payment system \| criminal proceeds \| law enforcement authorities \| assessment methodology \| combat money laundering \| precious metals \| account files \| risk categories \| criminal matters \| supervisory authority \| regulatory environment \| financial sector supervision \| account opening \| restrictive conditions \| suspicious transaction reports \| terrorist act \| lawful purpose \| anti ? money laundering \| enforcement authorities \| international standards \| banking secrecy \| adequate screening procedures \| intelligence information \| licensing requirements \| control structure \| asset freezing \| transaction reporting \| illegal proceeds \| mutual evaluation \| financial records \| criminal prosecutions \| financial sector regulation \| internal procedures \| cash transaction \| internal policies \| terrorism act \| adequate powers

freely available

Full text |

More access options

Check Google Scholar

In German libraries (KVK)

I need help

More details

Extent:	application/pdf
Series:	IMF Staff Country Reports.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series IMF Staff Country Reports Number 06/409 1 pages long
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011243475