The new anti-money laundering and counter-terrorism financing legislation requires organisations to undertake significant customer due diligence, not only at the initiation of the relationship between the organisation and the customer, but also during the relationship. When to conduct customer due diligence, and the extent to which it will need to be conducted, are two key issues arising from the new legislative and regulatory framework.

Our legal team can provide assistance to organisations in developing customer due diligence processes, policies and procedures. Drawing on legal, practical and operational experience, both as external advisers and in-house counsel, as well as domestic and overseas experience with clients, we can also assist organisations in developing compliance frameworks to meet their legislative and regulatory obligations. Our cross-functional team of banking and finance and corporate securities lawyers and litigators can also assist you in the following ways:

• Based on considerable experience advising cash dealers on the anti-money laundering regime contained in the Financial Transaction Reports Act 1988 (Cth), we can provide advice on the requirements of the new legislation, including guidance on the extent to which existing contracts will need to be amended to deal with anti-money laundering obligations.
• Draft new standard form contracts, and provide ongoing advice for new commercial transactions, to ensure your organisation complies with its anti-money laundering disclosure obligations.
• Dealing with regulators, and managing regulatory issues, including, where necessary, complex regulatory litigation.
• Dealing with other disputes which may arise out of compliance with the anti-money laundering regime, including discrimination disputes, as well as building and advising on appropriate complaints resolution processes.
  

Our recent anti-money laundering experience includes:

• advising a range of businesses in relation to the potential application of the anti-money laundering and counter-terrorism financing legislation
• assisting a number of organisations with exemption applications and ‘no action letter’ requests
• assisting funds management businesses to understand the implications of the anti-money laundering and counter-terrorism financing regime by assessing business activities against the designated services table, and developing checklists to assist in implementation
• advising a range of financial services entities on their anti-money laundering and counter-terrorism financing documentation, including compliance programs and Know Your Customer-related documentation
• reviewing risk management frameworks for super fund trustees to take account of anti-money laundering and counter-terrorism financing risks and the obligations applicable in the superannuation industry.
  

Our Anti-Money Laundering team can provide assistance to organisations in developing customer due diligence processes, policies and procedures.

Drawing on legal, practical and operational experience, both as external advisers and in-house counsel, as well as domestic and overseas experience with clients, we can also assist organisations in developing compliance frameworks to meet their legislative and regulatory obligations.