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Research report

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

31 Oct 2016
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.

Publication Details
Peer Reviewed: 
No

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