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. Below are a few examples of designated services:
A Reporting Entity’s Obligations
A reporting entity may have a variety of obligations depending on the designated services it provides and how it they provided.
A reporting entity will typically be required to:
How We Can Help
We can assist you with the compliance of the above-mentioned obligations, such as:
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ACY Advisory acknowledges and respects the Traditional Custodians of country throughout Australia. We respect their knowledge and recognise their continued connections to land, sea and community. We pay our respect to their Elders past, present and emerging.