Anti-Money Laundering
Our obligations under Australia's AML/CTF regime, and what to expect when you become a client of Contented Capital.
Why AML/CTF legislation exists
The Australian Government has implemented Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) legislation designed to reduce the opportunity for money generated through illegal activity to be converted into legitimate, or "clean", funds. By combating money laundering, the Government also aims to reduce crime and prevent funds from being used to finance terrorist activity.
The Australian Transaction Reports and Analysis Centre (AUSTRAC) is the Government regulator responsible for anti-money laundering and counter-terrorism financing, and has developed resources to help investors better understand this legislation.
Contented Capital's AML/CTF program
Contented Capital Pty Ltd complies with its AML obligations and has an AML/CTF compliance program in place, covering customer identification, ongoing monitoring, record-keeping and reporting in accordance with Australian law.
Know your customer is the foundation of a sound AML/CTF program.
Know your customer (KYC)
The Australian financial services industry is required to capture and retain specific customer information for new clients applying for products and services. This process is generally referred to as "know your customer", or KYC.
Contented Capital, along with the majority of financial services organisations, uses standard identification forms to fulfil our obligations in this respect. These identification forms capture information relevant to the client or customer type, and no new account can be opened without the appropriate form being completed.
Identification
New clients are asked to provide verified identification appropriate to their client and entity type.
Ongoing monitoring
Client relationships and transactions are monitored on an ongoing basis in line with our program.
Record keeping
Records are retained and reported in accordance with our obligations under Australian law.