Further AML/CFT regulatory changes came into effect on 1 June 2024, impacting wider reaching aspects of compliance, including customer due diligence. Below is a summary of the changes broadly that will affect most reporting entities, and links to the associated…
In October 2022, the AML/CFT Supervisors have released a revised Enhanced Customer Due Diligence Guidance and a revised AML/CFT Programme Guideline. The two guideline releases are summarised below. EDD Guideline The revised EDD Guideline includes clarifications on the EDD requirements…
Auckland based lawyer, Andrew Simpson, admitted 13 counts of money laundering offenses linked to the Comancheros Motorcycle Club. In April, police conducted a series of raids across Auckland seizing over $3.7 million in assets, including luxury cars, motorcycles, luggage and…
Westpac Australia is facing civil penalty orders for allegedly breaching the Anti-Money Laundering and Couter-Terrorism Financing (AML-CTF) Act on more than 23 million occasions. Full article here
Interesting article discussing the rising number of SARs lodged by Crypto Currency companies. We see this is an indication of effective AML practices starting to emerge within this sector. Read more here
