Home Parliamentary Business Committees Senate Committees Senate Standing Committees on Legal and Constitutional Affairs Completed inquiries and reports 2004 - 2007 Completed Inquiries Anti-Money Laundering and Counter-Terrorism Financing Bill 2006 [Provisions]; Anti-Money Laundering and Counter-Terrorism Financing (Transitional Provisions and Consequential Amendments) Bill 2006 [Provisions]

Anti-Money Laundering and Counter-Terrorism Financing Bill 2006 [Provisions]; Anti-Money Laundering and Counter-Terrorism Financing (Transitional Provisions and Consequential Amendments) Bill 2006 [Provisions]

Anti-Money Laundering and Counter-Terrorism Financing Bill 2006 [Provisions];
Anti-Money Laundering and Counter-Terrorism Financing (Transitional Provisions and Consequential Amendments) Bill 2006 [Provisions]

28 November 2006

View the report as a single document - (PDF 511KB)

View the report as separate downloadable parts:


Members of the Committee	(PDF 67KB)

Abbreviations	(PDF 79KB)

Recommendations	(PDF 39KB)

Chapter 1 - Introduction	(PDF 42KB)
Background Conduct of the inquiry Acknowledgement Note on references

Chapter 2 - Major changes to the Bill	(PDF 84KB)
Part 1 – Introduction Part 2 – Identification procedures Part 3 – Reporting obligations of reporting entities Part 6 – Register of providers of designated remittance services Part 7 – Anti-money laundering and counter-terrorism financing programs Part 8 – Correspondent banking Part 10 – Record keeping requirements Part 11 – Secrecy and access Part 13 – Audit Part 15 – Enforcement Part 18 – Miscellaneous

Chapter 3 - Key concerns for Industry	(PDF 197KB)
Consultations with stakeholders Department response Implementation of obligations Formation of the Rules Suspicious matter reporting obligation Register of Providers of Designated Remittance Services Penalties and sanctions Customer identification obligations Recognition of corporate groups International electronic funds transfers Reporting of Threshold Transactions Industry Specific Concerns

Chapter 4 - Privacy and discrimination concerns	(PDF 120KB)
Introduction Discrimination Privacy

Chapter 5 - Committee View	(PDF 65KB)
Committee view Recommendations

Additional comments by the Australian Labor Party	(PDF 35KB)

Appendix 1	(PDF 92KB)
Submissions received Tabled documents

Appendix 2 - Witnesses who appeared before the Committee	(PDF 44KB)
Melbourne, Tuesday 14 November 2006 Sydney, Wednesday 22 November 2006 Sydney, Thursday 23 November 2006

For further information, contact:

Committee Secretary
Senate Standing Committees on Legal and Constitutional Affairs
PO Box 6100
Parliament House
Canberra ACT 2600
Australia

Phone: +61 2 6277 3560

Fax: +61 2 6277 5794

Email: legcon.sen@aph.gov.au

Phone:	+61 2 6277 3560
Fax:	+61 2 6277 5794
Email:	legcon.sen@aph.gov.au