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Are you across the COVID19 AUSTRAC Updates? If not, dont worry, Murray Waldren Consulting is!

In this Covid-19 pandemic and the current isolation period we find ourselves in, it is important to find some time for self-reflection. We may also want to start to consider how our lives will look when we reach the other side. Has this crisis slowed us all down, helped us to reconnect, and in some cases, find some well-deserved down time and open-mindedness in a world where some of us have been moving at quite a frantic pace?

Have you taken the time to consider how the COVID 19 impacts your organisation? Continuing to conduct AML/CTF the same way you did prior to this global pandemic may need to be re-considered given the new and more importantly innovative ways that criminals are exploiting this tragedy. We are here to assist you reviewing your approach, keeping up with the times and ensuring you are keeping abreast of the new guidance and advice – let’s face it, anything helps in this current climate!

AUSTRAC’s COVID 19 Updates

The regulator has published some great guidance on their website to assist in these challenging times and to support the Australian Governments stimulus packages.  A key thing to remember with executing any change is ensuing you have conducted a change risk assessment.  Where change is required, make sure you document the change to evidence what you have done.  Remember, if it isn’t documented, did it even happen?  AUSTRAC will be expecting change, but they will also be expecting corresponding evidence to be available later on down the track.

Be sure to access the links below and check back regularly to ensure that you are across what is expected in these unprecedented times.

– How to comply with KYC requirements during the COVID-19 pandemic
– Fighting financial crime together – SMRs during the COVID-19 pandemic
– AUSTRAC supports ATO early release of super initiative
– AUSTRAC to accept Compliance Report 2019 until 30 June 2020
– Coronavirus (COVID-19) – Working with our reporting entities

Access to all guidance can be obtained via the following link https://www.austrac.gov.au/covid-19-updates

From us all at Murray Waldren Consulting, take care and stay safe!

 

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