AML (Anti-Money Laundering)
With money laundering and terrorism financing becoming a more and more widespread around the world today the necessity of conducting Anti-Money Laundering due diligence checks are very important for any business. The Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) covers the financial sector, gambling sector, bullion dealers and other professionals or businesses that provide services covered by the Act.
AML Reports with InfoTrack
The AML/CTF Act is part of a legislative package which brings Australia into line with international best practice to deter money laundering and terrorism financing. InfoTrack’s Anti-Money Laundering Search ensures that whomever you are dealing with has not been recorded as having laundered any money in accordance with the Anti-Money Laundering (AML) and Counter-Terrorism Act 2006.
- ACN / ABN and / or ASIC incorporation details
- Organisation’s address and contact details
- Ownership and ultimate parent information
- Share structure
- Lodged annual returns
- Line of business
- Standard industry classification
- Past credit enquiries
- Adverse summary information
- Import and export details
Knowing your clients can be the key to the successful running of your business and so on-going customer due diligence is critical in weeding out suspicious behaviour to decrease business risk.
View our latest blog post - KYC is good for business, not just for meeting AML/CTF obligations.