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Grant Thornton Foundation: welcoming RizeUp Australia and Women’s Resilience Centre
Podcast Grant Thornton Foundation: welcoming RizeUp Australia and Women’s Resilience Centre
In this episode, our guests discuss the special initiatives they’re undertaking alongside the Grant Thornton Foundation, how we can continue to create change when it comes to domestic and family violence in Australia and what’s on the horizon for all organisations.
Katherine Shamai
Katherine Shamai
| 44 min listen | 29 Apr 2025
Understanding value transfer chains
INSIGHT | EXISTING ENTITIES Understanding value transfer chains
The revised Australian AML/CTF Act 2024 introduces the concept of value transfer chains to enhance transparency and traceability in value transfers, including money, virtual assets, and property.
Neil Jeans
Katherine Shamai
Martin Stone
Annelies Homersham
| 8 min read | 11 Mar 2025
Virtual asset service providers
INSIGHT | EXISTING ENTITIES Virtual asset service providers
The current AML/CTF regime only extends to digital currency exchanges regulating exchanges between digital currency and fiat currency. The new Act introduces significant amendments to extend coverage to a broader range of virtual assets and virtual asset service providers (VASPs) through a revised set designated service.
Neil Jeans
Katherine Shamai
Martin Stone
Annelies Homersham
| 10 min read | 11 Mar 2025
International Value Transfer Services explained
INSIGHT | EXISTING ENTITIES International Value Transfer Services explained
The International Funds Transfer Instruction (IFTI) reporting regime is a critical component of AML/CTF framework. It requires certain businesses to report international funds transfers to AUSTRAC.
Neil Jeans
Katherine Shamai
Martin Stone
Annelies Homersham
| 7 min read | 03 Mar 2025
Introducing the Reporting Group concept
INSIGHT | EXISTING ENTITIES Introducing the Reporting Group concept
The revised Australian AML/CTF Act 2024 introduces the concept of a 'reporting group,' which allows related entities to manage and mitigate common AML/CTF risks more efficiently by sharing compliance responsibilities and resources. This concept aims to streamline compliance efforts and enhance the overall effectiveness of AML/CTF measures across related entities.
Neil Jeans
Katherine Shamai
Annelies Homersham
Martin Stone
| 7 min read | 03 Mar 2025
Initial Customer Due Diligence requirements
INSIGHT | EXISTING ENTITIES Initial Customer Due Diligence requirements
Australia's AML reforms are transitioning the initial Customer Due Diligence (CDD) requirements from the AML/CTF Rules to the AML/CTF Act, focusing on an outcomes-based framework to enhance clarity and effectiveness of CDD processes.
Neil Jeans
Katherine Shamai
Annelies Homersham
Martin Stone
| 8 min read | 03 Mar 2025
The role of Boards in Australia's evolving AML/CTF landscape
Podcast The role of Boards in Australia's evolving AML/CTF landscape
In this episode, Risk Consulting Partners and AML/CTF experts Neil Jeans and Katherine Shamai discuss the implications of the new AML/CTF Amendment Act, AUSTRAC’s expanded authority to investigate organisations, and the important questions Board should be asking management teams when it comes to the new reforms.
Neil Jeans
Katherine Shamai
| 25 min listen | 24 Feb 2025
The elements of a successful AML/CTF program
INSIGHT | NEW ENTRANTS The elements of a successful AML/CTF program
An AML/CTF program is crucial for organisations to comply with AML/CTF obligations. Under the AML/CTF Act 2024, all reporting entities must establish and maintain an AML/CTF program that identifies, mitigates, and manages ML/TF risks before and during the provision of designated services.
Neil Jeans
Katherine Shamai
Martin Stone
Annelies Homersham
| 5 min read | 19 Feb 2025
Exploring the key roles in AML/CTF governance
INSIGHT | NEW ENTRANTS Exploring the key roles in AML/CTF governance
Australia has commenced reforming its Anti-Money Laundering and Counter-Terrorist Financing (AML/CTF) regime including the ‘Tranche 2’ reforms, which expand AML/CTF compliance to apply to additional professions including lawyers, accountants, real estate agents, property developers, and precious stone dealers.
Neil Jeans
Katherine Shamai
Martin Stone
Annelies Homersham
| 10 min read | 19 Feb 2025
Approach to assessing ML/TF risk
INSIGHT | NEW ENTRANTS Approach to assessing ML/TF risk
Money Laundering / Terrorism Financing/Proliferation Financing (ML/TF/PF) risk assessment is a process of identifying, assessing, and understanding the risks of money laundering, terrorist financing, and proliferation financing (ML/TF/PF) that an organisation may face. It involves evaluating various factors to determine the level of risk and the implementation of appropriate measures to mitigate those risks.
Neil Jeans
Katherine Shamai
Martin Stone
Annelies Homersham
| 7 min read | 19 Feb 2025
Adopting an outcome-based framework for AML/CTF
INSIGHT | NEW ENTRANTS Adopting an outcome-based framework for AML/CTF
Australia is reforming its Anti-Money Laundering and Counter-Terrorist Financing (AML/CTF) regime by introducing an outcomes-based framework to enhance effectiveness and align with international standards.
Neil Jeans
Katherine Shamai
Martin Stone
Annelies Homersham
| 8 min read | 19 Feb 2025
Adopting an outcome-based framework for AML/CTF
INSIGHT | EXISTING ENTITIES Adopting an outcome-based framework for AML/CTF
Australia's amended AML/CTF Act introduces an outcome-based framework, focusing on achieving effective results in combating money laundering and terrorism financing (ML/TF) rather than just adhering to prescriptive rules. This approach aligns with international standards set by the Financial Action Task Force (FATF).
Neil Jeans
Katherine Shamai
Martin Stone
Annelies Homersham
| 8 min read | 18 Feb 2025
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