The Australian Government has implemented the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF) designed to:
- Bring Australia’s AML/CTF system into line with international standards;
- Reduce the risk of Australian businesses being misused for the purposes of money laundering or terrorism financing; and
- Meet the needs of law enforcement agencies for targeted information about possible criminal activity and terrorism.
The goal of most criminal acts is to generate a profit. To enjoy their ill gotten gains, criminals commonly seek to disguise the illegal source of those profits. Money laundering is the processing of criminal profits to disguise their illegal origins.
Terrorist groups also move funds to disguise their source, purpose and destination. Terrorism financing includes the financing of terrorist acts, terrorists and terrorist organisations.
Both money laundering and terrorism financing are serious crimes. The Australian Transaction Reports and Analysis Centre (AUSTRAC), the Government regulator for AML/CTF has developed a flyer to help investors better understand the legislation.
Trilogy Funds Management Limited is bound by the AML/CTF legislation and as such will need to verify the identity of any new clients, and their beneficial owners, prior to any service being provided. (Changes to the current legislation may, in the future, impose other due diligence procedures or require the collection of further information from investors).
Trilogy Funds is using the industry-standard forms created by the Financial Services Council (FSC) and the Financial Planning Association (FPA). Click on the following links to see what information and documentation you must provide to Trilogy Funds in order for us to verify your identity:
If you have any questions about the new customer identification procedures, please contact your financial adviser or our Investor Relations team on 1800 230 099.