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Allens on AML: Recent publications
Our experienced legal team regularly publishes articles and
updates on anti-money laundering - the most recent publications are listed below.
If you'd like to be notified when we add new publications to the site, please go
to our subscription page.
Allens Arthur Robinson also publishes articles on a wide range
of other legal topics. For the full list, go to the main Allens
site.
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AUSTRAC has recently released some updates to its policy on exemptions from the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 for those issuing and selling securities and has clarified its position on compliance reporting for managed investment schemes. Partner Peter Jones and Senior Associate Judy Maguire report |
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Regulations under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) relating to managed investment schemes have been approved. Partner Anna Lenahan and Senior Associate Judy Maguire report |
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Partners Anna Lenahan and Peter Jones and Senior Associate Judy Maguire look at the exemption of managed investment funds under the current anti-money laundering and counter-terrorism legislation |
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We look at considerations in determining whether an employer is a constitutional corporation; a breach of an employee's duty of fidelity justifying dismissal; whether an agreement can be made void by misleading information; and certain employers' obligations under anti-money laundering and counter-terrorism financing legislation |
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The Australian Transaction Reports and Analysis Centre has released a Guidance Note on the Application of the Policy (Civil Penalty Orders) Principles 2006. The Guidance Note describes AUSTRAC's approach to the Policy Principles, including what are 'reasonable steps' toward compliance within the 15-month prosecution-free period. Partners Peter Jones and Anna Lenahan and Senior Associate Judy Maguire look at some of the issues that arise from the Policy Principles |
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The correspondent banking provisions in the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) came into force on 12 June 2007 |
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The Australian Transaction Reports and Analysis Centre has finally released a Draft Guidance Note on the Register of Providers of Designated Remittance Services |
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AUSTRAC has deferred the compliance reporting requirements in the Anti-Money Laundering and Counter-Terrorism Financing Act 2006. Partners Peter Jones and Anna Lenahan and Senior Associate Judy Maguire report |
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Legislative changes and the introduction of some significant AML/CTF Rules make it clearer what are the obligations of reporting entities |
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The Federal Government has today introduced to Parliament the Anti-Money Laundering and Counter-Terrorism Financing Amendment Bill 2007. AUSTRAC has also today released a new set of Draft AML/CTF Rules for consultation. The Policy Principles on the 15 month 'amnesty period' have also been released. Partner Peter Jones and Senior Associate Judy Maguire look at what this will mean |
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ASIC has released a consultation paper inviting public submissions on the review of the Electronic Funds Transfer Code of Conduct. Partners Peter Jones and Catherine Parr and Lawyer Katya Rozenblit report |
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Allens Arthur Robinson Partner Anna Lenahan recently attended a high-level consultation between the Financial Action Task Force and representatives of the international legal and accounting professions. Anna and Senior Associate Judy Maguire report on the meeting and its outcomes |
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Reporting entities could have to pay up to $11 million if they contravene the civil penalty provisions in the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth). Partners Peter Jones and Anna Lenanhan and Senior Associate Judy Maguire report |
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Partners Peter Jones And Anna Lenahan and Senior Associate Judy Maguire report on the latest developments involving the Anti-Money Laundering and Counter-Terrorism Financing Bill 2006 |
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The Anti-Money Laundering/Counter-Terrorism Financing Bill 2006 and accompanying Anti-Money Laundering/Counter-Terrorism Financing (Transactional Provisions and Consequential Amendments) Bill 2006 may be passed by the end of the year and implemented in early 2007. Partner Peter Jones and Senior Associate Judy Maguire provide an update of the key changes |
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Partners Peter Jones and Anna Lenahan and Senior Associate Judy Maguire report on the Anti-Money Laundering and Counter-Terrorism Financing Bill 2006 |
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Australian financial institutions won't necessarily comply with proposed anti-money laundering and counter terrorist financing laws if they simply adopt the compliance regimes of their US parent entities. Recent Financial Action Task Force evaluation of the US AML/CTF regime highlights the issues. Partners Anna Lenahan and Peter Jones and Senior Associate Judy Maguire discuss |
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We report on the suspicious matter reporting regime and AUSTRAC's new enforcement powers under the revised Exposure Draft Anti-Money Laundering and Counter-Terrorism Financing Bill |
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The revised Exposure Draft Anti-Money Laundering and Counter-Terrorism Financing Bill, released on 13 July 2006, has addressed a number of problems identified by industry in the previous Exposure Draft Bill. Significant changes have been made, but concerns as to how to interpret some parts of the Bill and its impact on the financial sector remain. This Focus - the first in a series to be issued by AAR on the Bill - deals with the customer identification requirements |
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The Federal Government has listened to industry and adopted a less prescriptive, more risk based approach to its new anti-money laundering (AML) counter terrorist financing (CTF) legislation. Partner Peter Jones and Senior Associate Judy Maguire report |
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The Committee for the Prevention of Money Laundering and Terrorist Financing (a committee chaired by the European Union) has finalised its formal Draft Directive for implementing the Third Directive on the Prevention of Money Laundering and Terrorist Financing. The measures provide guidance on 'politically exposed persons'. Senior Associate Judy Maguire and Partner Anna Lenahan look at how PEPs are dealt with in the EU and other jurisdictions |
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This focus provides an overview of the Australian anti-money laundering (AML) and counter terrorist financing (CTF) regime |
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The Federal Government has announced a new timetable for the finalisation of its anti-money laundering and counter-terrorism financing Bill. Partner Peter Jones explains |
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The Federal Government has finally released its Exposure Draft Bill on Anti-Money Laundering and Counter Terrorism Financing. The Bill imposes onerous customer due diligence, reporting and compliance obligations. Partners Anna Lenahan and Peter Jones and Senior Associate Judy Maguire report on these obligations and flag issues for further consideration |
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The Anti-Terrorism Act (No 2) 2005 (Cth) received assent on 14 December 2005. Of particular relevance to the financial sector are the amendments to the Financial Transaction Reports Act 1988 and the extension of the terrorist financing offence contained in the Criminal Code |
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A recent Financial Action Task Force report concludes that Australia's anti-money laundering and counter-terrorist financing regimes do not comply with accepted global standards. Partner Anna Lenahan and Senior Associate Judy Maguire report on the task force's assessment and proposed reforms to the existing regimes |
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The Financial Action Task Force, an international inter-governmental body that develops policies to combat money laundering and terrorist financing, released its report on the results of its Mutual Evaluation Assessment on the Australian anti-money laundering and counter-terrorist financing regime on 14 October 2005. Senior Associate Judy Maguire summaries. |
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Partner Dean Carrigan and Lawyer Penny Holloway report on the proposed reforms to the financial services industry designed to reduce and eliminate money laundering |
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The Hong Kong Securities and Futures Commission recently issued updated anti-money laundering and anti-terrorist financing guidelines. Partner Matthew Barnard looks at the new measures proposed by the guidelines |
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Partner Anna Lenahan and Lawyer Matti Bechler look at recent developments in the anti-money laundering area and provide an update on issues associated with the proposed reform of Australian anti-money laundering legislation |
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In June 2004 the Hong Kong banking authorities issued revised money laundering policies and procedures. Partner Matthew Barnard and Senior Associate Daniel Yeo look at the changes and their implementation |
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The Federal Government's decision to reform Australia's anti-money laundering system in line with the revised Forty Recommendations of the Financial Action Task Force on Money Laundering will result in significant changes to Australia's money laundering legislation, including the Financial Transaction Reports Act 1988. Senior Associate Anna Lenahan reports |
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The international Financial Action Task Force on Money Laundering has revised its Forty Recommendations, which now include measures to combat terrorist financing as well as money laundering. Senior Associate Sarah Lacey highlights some issues for financial institutions arising from the review |
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