Anti-Money Laundering and Counter-Terrorism Financing Act and Rules

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.

Available for download