Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2017 (130 of 2017)

Schedule 1   Amendments

Part 1   Objects of Act

Anti-Money Laundering and Counter-Terrorism Financing Act 2006

1   Before paragraph 3(1)(a)

Insert:

(aa) to provide for measures to detect, deter and disrupt money laundering, the financing of terrorism, and other serious financial crimes; and

(ab) to provide relevant Australian government bodies and their international counterparts with the information they need to investigate and prosecute money laundering offences, offences constituted by the financing of terrorism, and other serious crimes; and

(ac) to support cooperation and collaboration among reporting entities, AUSTRAC and other government agencies, particularly law enforcement agencies, to detect, deter and disrupt money laundering, the financing of terrorism, and other serious crimes; and

(ad) to promote public confidence in the Australian financial system through the enactment and implementation of controls and powers to detect, deter and disrupt money laundering, the financing of terrorism, and other serious crimes; and