Research report

Australia’s superannuation sector: money laundering and terrorism financing risk assessment

31 Oct 2016
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Description

AUSTRAC identified higher than anticipated risks of fraud, cybercrime and terrorism financing in the superannuation sector, and has assessed the overall risk of ML/TF activity as medium. This report aims to develop awareness in the sector of these risks and help harden APRA-regulated superannuation funds against criminal activity.

This risk assessment is intended to provide a summary and general overview; it does not assess every risk or product relevant to the superannuation sector. It does not set out the comprehensive obligations under the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Act 2006, AML/CTF Regulations and AML/CTF Rules. It does not constitute nor should it be treated as legal advice or opinions. The Commonwealth accepts no liability for any loss suffered as a result of reliance on this publication. AUSTRAC recommends that independent professional advice be sought.

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