AUSTRALIA AML/CFT RISK ASSESSMENTS

AUSTRAC on 6 September, released documents containing –

·     key findings from the Australian banking sector AML/CFT risk assessments 2021;

·     risks associated with the major banks subsector to help identify, mitigate and manage risks;

·     risks associated with the foreign bank branches subsector to help identify, mitigate and manage risks;

·     risks associated with the foreign subsidiary bank subsector to help identify, mitigate and manage risks; and

·     risks associated with the other domestic banks subsector to help identify, mitigate and manage risks.   

These join the assessment released earlier in 2021 on the non-bank lending and financing sector, and the junket tour operations sector in 2020.  Earlier assessments for other sectors are also available.

https://www.austrac.gov.au/business/how-comply-and-report-guidance-and-resources/guidance-resources/risk-assessments

Any modest contributions for my time and ongoing expenses are welcomed!  I have a page where you can do so, and where one-off contributions start as low as $3, at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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