Mutual Evaluation Report Australia - Executive Summary
The evaluation of the anti-money laundering (AML) and combating the financing of terrorism (CFT) regime of Australia was based on the Forty Recommendations 2003 and the Eight Special Recommendations on Terrorist Financing 2001 of the Financial Action Task Force (FATF), and was prepared using the AML/CFT Methodology 2004. The evaluation was conducted by a team of assessors composed of FATF and APG experts in criminal law, law enforcement and regulatory issues.
The evaluation was based on the laws, regulations and other materials supplied by Australia, and information obtained by the evaluation team during its on-site visit to Australia from 10-23 March 2005, and subsequently. During the on-site mission, the evaluation team met with officials and representatives of all relevant Australia government agencies and the private sector.
This report provides a summary of the AML/CFT measures in place in Australia at the time of the on-site visit. The report describes and analyses those measures and provides recommendations on how certain aspects of the system could be strengthened. It also sets out Australia’s levels of compliance with the FATF 40 + 9 Recommendations.