Madison Marcus is steadfast in navigating our clients through the intricacies of compliance. Recent developments have seen AUSTRAC intensifying its scrutiny, issuing infringement notices for failures to meet the reporting standards set by the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act). The penalties for non-compliance with the 2022 annual report requirements range from $3,300 for sole traders to $16,500 for corporate entities per contravention. AUSTRAC’s key regulatory priorities have been clearly delineated in the lead-up to these developments.
For those seeking assistance with infringement notices and looking to remediate missed deadlines, the Financial Services & Compliance division at Madison Marcus is equipped to provide the guidance needed to move forward with confidence.
Our suite of services includes:
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Tailored Recovery Strategies:
We offer customised legal and compliance solutions to address and rectify overdue obligations.
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Ongoing Support:
Our team is committed to proactive monitoring and support, which helps to avert future compliance issues and ensures continuous adherence.
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Quarterly Regulatory Updates & Advice:
Benefit from our expert-led educational regulatory updates and advice, which deepen your understanding and enhance the practical application of compliance mandates.
Madison Marcus is here to transform compliance hurdles into opportunities for growth and learning. Allow us to partner with you to foster a culture of compliance excellence.
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