We are committed to complying with the Anti-Money Laundering and Counter-Terrorism Financing Act 2006.
The purpose of the Anti-Money Laundering and Counter Terrorism Financing Act 2006 (AML/CTF Act) is to regulate financial transactions in order to detect and prevent money laundering and terrorism financing.
‘Money laundering’ is the way criminals use financial systems to try to hide or disguise the proceeds of crimes and enables criminals to use the money for future criminal activity or in legitimate business.
Anti-money laundering laws are designed to prevent this behaviour by establishing an ‘audit trail’, or transaction history, which provides evidence linking criminal acts and their organisers. These audit trails can produce vital leads in the detection and investigation of criminal activities.
What does this mean for us?
The new laws require us to:
For further information about Anti money laundering, please access the links below:
LINKS TO WEBSITES
LINKS TO PDF FACT SHEETS