Anti-money Laundering Compliance
How Leeuwin Capital Partner is complying with AML/CTF obligations with transparency and effective client communication.
What is AML/CTF?
Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws are designed to prevent criminals from using legitimate businesses and transactions to conceal illicit funds or support terrorism. Certain professional services in Australia are subject to AUSTRAC regulation, meaning those businesses providing regulated services must comply with AML/CTF obligations.
Why is Leeuwin Capital Partners requesting this information?
Leeuwin Capital Partners must comply with AML/CTF obligations when providing regulated services. Leeuwin Capital Partners has implemented clear processes and will support our clients through the requirements process.
What is customer due diligence?
The Customer Due Diligence (CDD) process involves verifying a client’s identity before providing a regulated service. This may include confirming identity, understanding who owns or controls the person or entity involved in the transaction, and taking additional steps where a client or transaction presents a higher level of risk.
What information may be requested?
Depending on the ownership structure and the nature of the transaction, Leeuwin Capital Partners, or its AML provider, may request information or evidence relating to the following:
- Your full name, date of birth, and residential address
- Details from an identification document to prove identity (such as a driver’s licence or passport)
- Ownership or control information for a legal entity (evidence of beneficial ownership)
- Information that helps us understand the nature and purpose of the transaction and, where required, the source of funds/wealth
How will this information be used?
This information is collected so Leeuwin Capital Partners can meet its legal obligations, verify identity, assess risk, and help ensure the transaction is legitimate. It may also be used to maintain required compliance records and, where required by law, support reporting obligations to AUSTRAC.
How will Leeuwin Capital Partners handle your personal information?
Leeuwin Capital Partners will collect only the personal information reasonably necessary to meet its AML/CTF and related legal obligations. OAIC guidance also states that businesses should not retain copies of full identification documents for AML/CTF record-keeping purposes unless another law requires them to do so. Refer to our Privacy Policy for more information.
What happens if the requested information is not provided?
If the requested information is not provided, Leeuwin Capital Partners may be unable to provide the regulated service or proceed until the required information is received. This is because completing customer due diligence is a legal requirement before certain professional services can be provided.