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Clock ticking for conveyancers to be ready for AML reform – AUSTRAC
Regulator does not expect perfection on day one and recognises businesses are up against sophisticated criminals – CEO Brendan Thomas.
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88 articles for “AML/CTF”
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Conveyancers still have a week to have their say on latest AML updates
AUSTRAC’s proposed updates could cut duplication and costs by letting real estate agents rely on conveyancer due diligence.
Three-quarters of conveyancers worried by new AML compliance
Survey shows property professionals are still unsure about their responsibilities under looming law reforms.
Should conveyancers join forces to handle AML compliance?
The prospect of crippling costs to comply with incoming anti-money laundering laws raises questions around the way practitioners can work together.
Real estate agents can rely on conveyancers’ AML due diligence
AUSTRAC has unveiled new guidance around anti-money laundering reforms and given the sector a month to make submissions to the latest changes.
Conveyancers do most AML work already but face big fines for slip-ups
Penalties of $19,000 a day for those who do not sign-up to the new regime. And failure to carry out annual compliance reports also carry a $19,000 fine.
Key AML dates for conveyancers as new rules are rolled out
Timeline for the introduction of Tranche 2 reforms that will bring practitioners under AUSTRAC scrutiny.
Jail threat for conveyancers who tip off clients they suspect of money laundering
AUSTRAC obligations on conveyancers and property lawyers represent a real change in ethics and client privilege, according to practitioners.
Will conveyancers walk away over AML/CTF reforms?
With Tranche 2 anti-money laundering rules around the corner, that’s one of the questions we asked award-winning conveyancer and trainer Garth Brown who gives his expert view on what the reforms will mean for the sector.
Conveyancers need close relationship with next govt on new AML/CTF rules
Reforms will have a huge impact on the industry in terms of impact on resourcing, on process and how those changes are rolled out to conveyancers.
Conveyancers put on notice by AUSTRAC
The financial crimes regulator will not hesitate in pursuing businesses who breach tough new anti-money laundering rules.
Proposed AML legislation will make home buying more expensive
An anti-money laundering regime that will cost the property industry $2 billion a year will hurt small businesses and Australians buying and selling property.
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