AML/CTF Statement

Smartivate Pty Ltd (Smartivate) is committed to complying with the Australian Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Act 2006 and the AML/CTF Rules Instrument 2007 (No.1) and as such has processes in place to ensure its products and/or services are not being used to facilitate money laundering or terrorism financing. Smartivate is registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC) as an Independent Remittance Dealer and Digital Currency Exchange Service Provider.

Who is AUSTRAC?

AUSTRAC is Australia’s financial intelligence agency and AML/CTF regulator. AUSTRAC specifically seeks to minimise money laundering and terrorism financing within the financial system.

What is Money Laundering?

Money laundering is the process in which the proceeds of illegal activities are disguised as legitimate money or other assets.

What is Terrorism Financing?

Terrorism Financing is where funds with a legitimate source are put into the financial system and redirected to terrorist organisations.

To comply with its AML/CTF obligations, Smartivate:

  • carries out the verification of a customer’s identity before providing any products and/or services (including conducting sanctions list checks); and
  • Reports suspicious matters to AUSTRAC. Smartivate adopts a risk-based approach when assessing money laundering and terrorism financing risk. Smartivate has assessed the risks associated with its business and identifies, mitigates and manages risk accordingly.

 

 

 

 

V 1 24.02.2021