AML/CTF

The Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) introduced major reforms as part of Australia's continuing efforts to combat terrorism funding and stamp-out money laundering, bringing Australia in line with international standards. The Act is regulated by AUSTRAC -The Australian Transactions Reports and Analysis Centre, who serve in a supervisory, monitoring and enforcement capacity. Tranch 2 Designated Services

In general, the AML/CTF Act requires reporting entities to:

• Know Your Customer (KYC) - identify customer and verify customer details
• Keep records
• Establish and maintain an AML/CTF program
• Perform ongoing customer due diligence and reporting
• Report on cross border currency movements
• Provide originator information for electronic funds transfers
• Adhere to obligations relating to correspondent banking relationships

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How we help

We offer a highly comprehensive suite of AML/CTF products and services including Know Your Customer Reports, Know Your Employee Reports, Individual Due Diligence Reports - OFAT, DFAT, PEP information, and Online Verification Checks.

• Know Your Customer (KYC) Reports

KYC Reports are the simple, quick and cost-effective way to meet your KYC verification obligations. They will allow you to verify more details than those prescribed in the rules that accompany the AML/CTF Act, and verify the details of clients with different risk profiles, including high risk customers. They will help ensure your KYC protocols are being followed, and will facilitate accurate record keeping which is an important obligation of the AML/CTF Act. The four KYC reports we offer include:

• • KYC Basic Report - designed for low risk customers, verifies organisation details from the relevant registration body
  • KYC Character Report - designed for medium risk customers, also provides public record information on the organisation and principals
  • KYC Relationships Report - designed for high risk customers, also provides details of the other business interests of the principals
  • KYC Additions Report - designed to provide additional information on individuals and organisations to supplement previous enquiries


• Due Diligence Investigations

We provide you with the broadest range of information sources which means you have an unprecedented ability to perform your own due diligence investigations into your customers. The data sources and services you will have access to include:

• • ASIC - the widest range of ASIC searches available from one portal
  • Business name extracts from all states and territories
  • ATO - ABN verification
  • Association and co-Operative searches from NSW, VIC and QLD
  • Overseas company reports for overseas organisations
  • People finder searches
  • ITSA bankruptcy searches
  • Property searches for all states and territories
  • ASX company reports


• Employee Screening

The AUSTRAC Rules Instrument # 1 stipulates that employees should be screened. In keeping with the risk based nature of the Act we offer a broad range of services to screen employees with different risk profiles - from basic checks for low risk employees to more comprehensive checks for high risk employees.

• Systems Integration

We are one of the leading providers of web services and information in XML to the Australian information market. If you are looking for AML/CTF information to integrate into your systems, please contact us for details.