Worldbox: Higher due diligence for Asian investors as Australia deadline looms

Asia-Pacific Uncategorized

New rules governing customer due diligence in Australia will see knock-on effects for businesses and individuals throughout Asia, as a January 2016 cut-off date on non-compliance draws closer.

Asian companies and individuals doing business with firms in Australia will soon to be vetted far more closely than they have ever been, thanks to new Australian compliance rules.

Last year, Australia’s Financial Action Task Force identified customer due diligence as a key area of concern within the country’s Anti-Money Laundering and Counter-Terrorism Financing Rules.

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