Lawyers, accountants and real-estate agents will soon come under Australia’s anti-money laundering and counter terrorism financing (AML/CTF) regime, accompanied by obligations to assess the risk of their clients and verify identities. For more complex client groups, this has the potential for delay, costs and confusion, particularly in a multi-advisor environment.
This session looks into these situations, including: • Why you should be suspicious of your clients • How to think about risk in an AML/CTF environment • Working with other advisors, including the role and pitfalls of reliance arrangements • The intersection between AML/CTF and privacy - use disclosure of Know Your Client (KYC) information
