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AUSTRAC Guidance on Source of Wealth Checks

17 October 2022
money paper bills in washing machine

AUSTRAC Guidance on Source of Wealth Checks

AUSTRAC has published new guidance to help reporting entities perform source of funds and source of wealth checks and mitigate the risks customers’ funds being associated money laundering, terrorism financing and other serious crimes.

The guidance incorporates a range of examples to explain how source of funds and source of wealth processes apply across various industry sectors.