Australia’s Financial Integrity: A Global Compliance Approach to AML/CTF

Australia Title

Today’s financial landscape demands a comprehensive grasp of AML/CTF measures. Through exploring the intricacies of AML/CTF law in Australia, this book provides readers with a comprehensive understanding of the framework of measures which Australia has adopted to meet global standards set by the Financial Action Task Force (FATF). The book is structured in a way that reflects and aligns with the global standards set out by the Financial Action Task Force (FATF). Each chapter helpfully adopts the title of one of the FATF’s 40 recommendations, including those recommendations and their interpretive notes, followed by questions and answers.

This book’s unique structure breaks down complex research findings into simple, digestible insights. It begins with an in-depth examination of the FATF standards, followed by an analysis of FATF recommendations. The exploration continues with a discussion of how Australia has adhered to the global regime with respect to each standard. Presented in a Question-and-Answer format, this approach empowers readers to explore various facets of the research, including methodology, implications, and real-world applications. Each chapter is guided by pertinent questions, enhancing accessibility while offering a comprehensive view of the subject matter, making the book a valuable resource for both scholars and practitioners alike.

Features

• A comprehensive guide written by leading experts in the field.
• Learn how Australia complies with the global regime

table of content

Chapter 1: Assessing Risks & Applying a Risk-Based Approach

Chapter 2: National cooperation and coordination

Chapter 3: Money laundering offence

Chapter 4: Confiscation and provisional measures

Chapter 5: Terrorist financing offence

Chapter 6: Targeted financial sanctions related to terrorism and terrorist financing

Chapter 7: Targeted financial sanctions related to proliferation

Chapter 8: Non-profit organisations

Chapter 9: Financial institution secrecy laws

Chapter 10: Customer Due Diligence

Chapter 11: Record keeping

Chapter 12: Politically Exposed Persons

Chapter 13: Correspondent banking

Chapter 14: Money or value transfer services

Chapter 15: New technologies

Chapter 16: Wire transfers

Chapter 17: Reliance on third parties

Chapter 18: Internal controls and foreign branches and subsidiaries

Chapter 19: Higher-risk countries

Chapter 20: Reporting of suspicious transactions

Chapter 21: Tipping-off and confidentiality

Chapter 22: DNFBPs: Customer care diligence

Chapter 23: DNFBPs: Other Measures

Chapter 24: Transparency and beneficial ownership of legal persons

Chapter 25: Transparency and beneficial ownership of legal arrangements

Chapter 26: Regulation and supervision of financial institutions

Chapter 27: Powers of supervisors

Chapter 28: Regulation and supervision of DNFBPs

Chapter 29: Financial Intelligence Units

Chapter 30: Responsibilities of law enforcement and investigative authorities

Chapter 31: Powers of law enforcement and investigative authorities

Chapter 32: Cash couriers

Chapter 33: Statistics

Chapter 34: Guidance and feedback

Chapter 35: Sanctions

Chapter 36: International Instruments

Chapter 37: Mutual legal assistance

Chapter 38: Mutual legal assistance:  freezing and confiscation

Chapter 39: Extradition

Chapter 40: Other forms of international cooperation