Anti-Money Laundering

Introduction

AML/CTF Audits

Have you been issued with a Compliance Order or directions from the Regulator AUSTRAC? 

Risk Consultants Australia have qualified experts, and has been involved with Enforcable Undertaking's (EU) audits, through assisting Reporting Entities that have agreed with and EU with the Regulator AUSTRAC.

We have assisted with Audits and Reviews in the Gaming, Money Transfer and Banking sectors.

It is a requirement under AML/CTF Act that your Compliance Program is audited by an independent person on a regular basis.  The fines for non compliance are up to $11 million.

If you have been issued with any corrospondece from AUSTRAC it is important that you act on the corrospence promptly, please contact Louise Murphy on (02) 9223 3656, we assist in all capital City's and Regional Areas.  Our after hours contact numbers are available from contact us tab on our home page.

Corporate Governance Credit Financial Markets Operational Risk Anti Money Laundering Business Continuity Management Disaster Recovery Planning Education & Training
The legal implications of a failure to execute appropriate anti-money laundering training should be more than enough to persuade professional entities to honor these obligations. Anti-money laundering training can help any financial institution or otherwise regulated body to remain in compliance with acceptable legal standards. Though it is, to a certain extent, the responsibility of any regulated agency to report suspicious activity without the intervention of a legislative body, anti-money laundering training ensures compliance through procedure. Federal laws and agencies affiliated with identifying money laundering will set a limit on the amount of money which triggers additional investigation, and anti-money laundering training can keep any necessary parties well-informed as to what may be irregular or concerning within an organization. Anti-money laundering training reduces the burden smaller entities may see from attempting to monitor anti-money laundering compliance wi thout adequate education, and helps to streamline reporting necessary for continued independent policing. Organizations that do not adhere to the anti-money laundering guidelines currently established in their region a re susceptible to a number of penalties and inquiries, many of which can be costly and crippling to investor relations. Protecting a company's legal vulnerabilities is a necessary aspect of successful corporate growth and ongoing profitability without fear of penalty or financial crime. Anti-money laundering training helps educate the owners of a business's books and numbers on the best way to maintain compliance within their current corporate framework. Identifying the best way to legislate money already on hand in addition to providing a baseline from which future anti-money laundering practices can be implemented helps to maintain tight regulation beyond the initial anti-money laundering training.