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Anti-Money Laundering

Financial Institutions in Australia are governed by the Anti-Money Laundering and Counter-Terrorism Financing Act which came into force in 2006. The Act has had a significant impact on the Australian financial sector and has imposed AML/CTF obligations.

Some of these obligations include:

  • Customer due diligence
  • Transaction monitoring
  • Threshold and suspicious matter reporting
  • Record keeping
  • Implementation of a risk based AML/CTF Program

The Mutual endeavours to comply with the Act in all dealings with members.

Click here to view further details of the obligations of The Act.

Questions?

If you have any questions, please contact us