Anti-Money Laundering and Counter-Terrorism Financing Act and Rules (Source: http://www.austrac.gov.au/aml_ctf.html)
This Act and Rule establish in late 2006 and provision take effect at the end of 2008, The AML/CTF Act is part of a legislative package which brings Australia into line with international best practice to deter money laundering and terrorism financing. Webtrade has the obligation to be the part of the stability Australia financial system, we thoroughly comply the Act and rule, gradually improve compliance procedure and self enforcement.
Under the provisions of the Act, we have the obligation to perform:
Identify and verify each customer identity
Complete and record transaction history
Apply AML/CTF compliance procedure
Submit SMR report and apply monitor program
Webtrade offers currency exchange and remittance services, we have an obligation to declare relevant transaction and information in accordance with the provisions of the Act.
Webtrade (Webtrade International Pty Ltd) is a leading global financial company that specialises in currency exchange, money transfer and international remittances. We have offices throughout Sydney, Melbourne & Brisbane.
All content on this site is for general information purposes only. By provision of the content in this site, Webtrade does not provide legal or other professional advice. Webtrade expressly disclaims any liability arising from use of the service. If you require legal or other expert advice or assistance, you should seek the services of a competent professional person.