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Date: April 30, 2024 Tue
Time: 2:28 am
Time: 2:28 am
Results for crime reporting (australia)
1 results foundAuthor: Australia. Australian Transaction Reports and Analysis Centre Title: Suspicious matter reporting - Market Participants in the securities and derivatives sectors Summary: All reporting entities under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) have obligations to report suspicious matters to AUSTRAC through the submission of suspicious matter reports (SMRs). These reports are a critical source of intelligence in combating serious criminal activity, including organised crime, terrorism financing and tax evasion. In July 2010 AUSTRAC conducted a survey of reporting entities that are Market Participants1 in the securities and derivatives sectors. The survey gathered information about how Market Participants have understood and addressed their SMR and related obligations under the AML/CTF Act. The survey included questions about staff training, transaction monitoring and enhanced customer due diligence (ECDD). This report presents the results of the survey, including aggregated data and analysis. It is a snapshot of organisational capacity and readiness among Market Participants to identify matters that may be reportable to AUSTRAC as SMRs. There are 16 key findings and five areas of ‘outlier behaviour’ that warrant highlighting. Where the report states that a respondent exhibited ‘outlier behaviour’, this indicates that the respondent’s behaviour diverged from that exhibited by their peers, and that they were yet to develop fully effective AML/CTF programs, systems or processes. The report’s findings will be directly relevant to Market Participants. The findings will also be of interest to the broader regulated population, compliance professionals, industry peak bodies, professional associations and academics. Details: West Chastwood, Australia: Australian Transaction Reports and Analysis Centre (AUSTRAC), 2010. 35p. Source: AUSTRAC survey series no. 2: Internet Resource: Accessed May 8, 2012 at http://www.austrac.gov.au/files/surveyseries_market_participants.pdf Year: 2010 Country: Australia URL: http://www.austrac.gov.au/files/surveyseries_market_participants.pdf Shelf Number: 125219 Keywords: Business CrimesCrime Reporting (Australia)Financial CrimesOrganized CrimeTerrorist Financing |