#ctf program

2014 is an eventful year when it comes to compliance. This article outlines the most significant regulatory events and updates of 2014 from the perspective of CFDs and FX providers. It should be noted that these events are relevant to a lot of other Australian Financial Services Licensees and Reporting Entities (REs) under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act).

The Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) (the ‘AML/CTF Act’, the ‘Act’) and the Anti-Money Laundering and Counter-Terrorism Financing Rules Instrument 2007 (No.1) (Cth) (the ‘AML/CTF Rules’, the ‘Rules’) impose various obligations on persons captured by the definition of ‘reporting entity’ under section 5 of the Act. A reporting entity refers to a person that offers one or more designated services as defined in section 6 of the Act.

Fraud cases flood the media these days and financial losses suffered by the victims can easily range anywhere between a few dollars and hundreds of thousands of dollars. The figures are much bigger for businesses. We become increasingly vulnerable to fraud due to the advances in technology and the easy access to personal information.

Read our resources section to know more about AFSL Compliance Services and AML(Anti Money Laundering )/CTF compliance matters.

Read our resources section to know more about AFSL Compliance Services and AML(Anti Money Laundering )/CTF compliance matters. We can tailor our AML/CTF and AFSL compliance solutions to suit your needs, regardless. Whether you’re a newly established business or a larger organization.