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Australia's Enhanced Anti-money Laundering and Counter-terrorism Financing Regime: New Compliance Challenges for the Financial Services Industry

Posthouwer, Marc (2008) Australia's Enhanced Anti-money Laundering and Counter-terrorism Financing Regime: New Compliance Challenges for the Financial Services Industry. Law in Context, 25 (2). pp. 160-177. ISSN 0811-5796

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Abstract

As part of the effort to combat money laundering and the financing of terrorism, Australia’s anti-money laundering (AML) and counter terrorism financing (CTF) regime has been the subject of a series of legislative enhancements resulting from recent amendments to the foundational AML legislation, the Financial Transaction Reports Act 1988 (Cth) (FTR Act), and the introduction of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) that presents new compliance challenges for the financial services industry and poses questions about its impact on privacy and other rights of consumers of financial and related services.

Item Type: Article
Uncontrolled Keywords: ResPubID14812, money laundering, terrorism prevention, financing terrorism, Australia’s anti-money laundering (AML), counter terrorism financing (CTF), Anti-Money Laundering and Counter-Terrorism Financing Act 2006, financial services industry
Subjects: Faculty/School/Research Centre/Department > School of Law
FOR Classification > 1801 Law
SEO Classification > 9404 Justice and the Law
Depositing User: VUIR
Date Deposited: 14 Sep 2011 03:55
Last Modified: 14 Sep 2011 03:55
URI: http://vuir.vu.edu.au/id/eprint/3895
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