AML/CTF Policy Statement
Since XX/XX/XXXX, Australian Blockchain Association Pty Ltd (“AusBlock”, “ABA”, “we”, “us” or “our”) has been an AUSTRAC-registered Digital Currency Exchange (DCE) under Australian law. As such, we must ensure our services do not facilitate money laundering or terrorism financing, and meeting our obligations under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth), also known as (“AML/CTF Act”). We have implemented rigorous Anti-Money Laundering (AML), Counter-Terrorism Financing (CTF), and fraud prevention measures to identify, monitor, and deter any suspicious activity.
What is Money Laundering?
Money laundering is the process of converting illicitly obtained funds into legitimate assets. This could involve multiple transactions or transfers designed to obscure the origin of the money. In regulatory contexts, money laundering often encompasses various financial crimes, including tax evasion and sanctions evasion.
What is Terrorism Financing?
Terrorism financing is the use of funds—concealing their source—to support terrorist acts. Whether large or small in amount, such financing poses a major security threat, and identifying, reporting, and blocking these funds is a critical goal of AML/CTF measures.
Who is AUSTRAC?
Australian Transaction Reports and Analysis Centre (AUSTRAC) is the Australian government’s financial intelligence unit and regulatory body. It monitors financial transactions to detect and combat money laundering, tax evasion, welfare fraud, terrorism, and organised crime. By being AUSTRAC-registered, AusBlock works under their oversight to ensure our exchange adheres to all pertinent reporting and compliance requirements.
Our Commitment
AusBlock takes its AML/CTF obligations seriously. Through comprehensive verification, transaction monitoring, and reporting procedures, we aim to maintain a safe, transparent, and legitimate platform for all users. We continuously update our policies to align with Australian and international best practices, protecting both our clients and the wider financial ecosystem.
If you have any questions regarding our AML/CTF obligations or need further information, please contact: [email protected]
Last Updated: 11 March 2025
