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How does this affect you?
Many provisions of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 became effective on 12 December 2007. The Australian Government introduced the Act to reduce the risk of Australian businesses being misused for the purposes of money laundering or financing terrorism.
The AML/CTF Act requires businesses that provide certain financial services, to:
- identify customers before providing those services;
- report transactions above a determined amount, and;
- from December 2008 report suspicious transactions.
Elders Forestry has changed the way in which we identify and verify new customers to comply with the AML/CTF Act. We have adopted the IFSA/FPA guidelines and forms.
Identification Forms
ADVISERS - please log in to AdviserPoint to download forms.
NB: Advisers who already have an existing process in their business to deliver the requirements of the AML Guidelines do not need to use these forms. Only the Adviser Declaration form for the Diversified Forestry Project and the Application form for the Hardwood and sandalwood projects need to be completed if this is the case.
If you have any queries about this AML/CTF Act new identification and verification process please contact Adviser Services on 1300 732 822. |
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