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Would Your AML/CTF Reporting Stand Up to AUSTRAC Audit Scrutiny?

Friday, 1 March 2013

Would Your AML/CTF Reporting Stand Up to AUSTRAC Audit Scrutiny?

Barringtons understands that AML/CTF Reporting Training has traditionally been as exciting as watching paint dry.

 Our improved AML/CTF Training gives you more. More interactive, engaging and visually stimulating content means you will retain more. 

With greater retention and attention to the key reporting requirements, you are less likely to expose your club to penalties.

 Clubs and hotels need to assess the risk of money laundering and terrorism financing and address such risks and the stipulated provisions within the legislation. 

Since 2007, clubs and hotels who have gaming must submit a compliance report to AUSTRAC before 31 March each year. 

Since 2013 there has seen increased audits by the regulator AUSTRAC. Those who provide false information in their compliance reports expose themselves to severe penalties - up to 10 years imprisonment and/or $1,100,000.00 fines. 

Through consultation, Barringtons has been working closely with clients who have been subject to audits by AUSTRAC Inspectors to ensure they do not expose themselves to offences under this legislation. 

Click here to learn more. 


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