The next step we require is your personal particulars for our Austrac 'Know Your Customer' (KYC) compliance. Information required by Austrac includes details like your organisation structure, your key personnel, and your registration details as recorded with ASIC.
This is an automated process that will interact and update the information that you provide with the information currently stored in our database.
We understand that this can be a time consuming exercise, but please be aware that our organisation has legal obligations under the Australian Transaction Reports and Analysis Centre (AUSTRAC) legislation and this information is required.
Austrac is Australia's anti money laundering and counter-terrorism financing regulator and specialist financial intelligence unit. Austrac works collaboratively with Australian industries and businesses in their compliance with anti-money laundering and counter-terrorism financing legislation.
As Australia's financial intelligence unit, Austrac contributes to investigative and law enforcement work to combat financial crime and prosecute criminals in Australia and overseas.
All cash in transit business must have internal AML compliance programs (such as ours below) that verify the identity of customers. Businesses that breach the laws can be fined $11 million, while individuals within the company can face penalties of up to $2.2 million.
For more information on Austrac and the Anti Money Laundering & Counter Terrorism Financing Act 2006, please visit their website by clicking www.austrac.gov.au (a separate window will open so you will not loose this page).
To learn more about how we manage information provided you can view our Privacy Policy.
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