Blog

FATF Mutual Evaluation

The Financial Action Task Force (FATF) just published this handy guide for the mutual evaluation process. Australia and New Zealand due to be reviewed soon (as early as this year) no doubt preparations are already well underway so it’s the perfect time to brush up on the methodology! We will keep you posted when we hear anything more on timings for these evaluations… Link to the full article at https://lnkd.in/fYwbvaj

Read more Leave a comment

NZ Winter course calendar just released!

Very exciting – after the success of our inaugural course in Auckland last month, we are coming back to NZ this Winter with even more qualification options available! This Winter we will offer another opportunity to complete the Certificate in AML but we are also expanding the workshops to Wellington and Christchurch to make it that much easier for participants to benefit from the face to face learning environment!! But…

Read more Leave a comment

Inside Leadership wrap up

Last Thursday evening we were privileged to be invited to FutureYou’s exclusive panel discussion featuring some of Australia’s experts in Regulatory Compliance. The panel included a mix Governance, Regulation, Dispute Resolution and Conduct professionals, including the Ombudsmen of AFCA (David Locke), Commissioner of ASIC (John Price) and the ATO’s CFO (Frances Cawthra). The topic was ‘unflinching and unapologetic: higher expectations reforming Governance’ which provided some great insights into what is…

Read more Leave a comment

ICA Course Dates Released for 2019

New Course Dates released for 2019! For more details on any of the above courses you can check out the ICA website directly at https://www.int-comp.org/qualifications-homepage or get in touch with one of us here at Murray Waldren Consulting The Certificate level courses include a one day workshop and online exam. This year we are introducing the Advanced Certificate level which run over a longer time period (about 6 months) and includes two…

Read more Leave a comment

Draft amendments to Chapter 11 of the AML/CTF Rules – last chance for feedback and a preview of the 2018 Compliance Report

The public consultation period for the draft amendments to Chapter 11 of the AML/CTF Rules closes on the 22 November 2018. These amendments set the reporting and lodgement periods for the Compliance Report, and specify the classes of reporting entity that will be exempt from lodging a 2018 Compliance Report. The requirement to lodge an annual Compliance Report for the 2017 calendar year was suspended to allow consultation and review of…

Read more Leave a comment

AUSTRAC release NPO red flag indicators and announce a permanent external posting to China at the 2018 CTF Summit

Lots of exciting things happening this week from AUSTRAC with the 4th Annual Counter-Terrorism Financing Summit being held in Bangkok. They have just announced an external posting to China to add to existing postings in Indonesia, the Philippines and Malaysia. Yesterday also saw the launch of the Non-profit organisations & terrorism financing red flag indicators 2018 report which provides a set of red flag indicators related to non-profit organisations (NPOs) at high risk of…

Read more Leave a comment

New Zealand Police & ACAMS Conference 2018 Reflections

So we are back from the land of the long white cloud and we have brought you back our picks from the jam packed agenda that was the 2018 NZ Police & ACAMS Anti-Money Laundering and Countering Financing of Terrorism Conference. As proud co-sponsors Murray Waldren Consulting and the ICA joined forces at this years event, sharing our passion for formal qualifications in financial crime, Minties and Tim Tams (see…

Read more Leave a comment

ASIC Review into compliance finds unacceptable delays

Regulatory insights: ASIC has identified “unacceptable delays” in the time taken to identify, report and correct significant compliance breaches in its report released yesterday.   The report analysed the breach reporting processes of 12 financial services groups, including the big four banks and AMP from 2014 – 2017.  See ASIC’s report here REP 594 and infographic here Infographic The report found the average time taken by major banks to identify significant breaches…

Read more Leave a comment

MAS Release Guidance for Effective Transactions Monitoring Controls

Regulatory update: The recent MAS Guidance for Effective Transactions Monitoring Controls highlights the importance of an effective TM system to enable an FI to monitor for any unusual or suspicious trends, patterns or activities and discharge its reporting obligations. While the paper does not impose any additional obligations on FI’s it highlights examples of best practices seen by the MAS during bank inspections and should be considered as indicators of…

Read more Leave a comment

AUSTRAC Update – Tranche 1.5

AUSTRAC update to the Association of Superannuation Funds Australia– Financial Crime Discussion Group (August 2018) Murray Waldren Consulting presented at the August discussion group. Also presenting at this forum was Richard Bunting and Richard Lee from AUSTRAC. They outlined the following key points by way of an update on AUSTRAC’s recent activity and upcoming objectives. It centres around the concept of Phase 1.5 – to be introduced into Parliament Nov 18​…

Read more Leave a comment