AML/CTF Act

AML/CTF Act is part of a legislative package which brings Australia into line with international best practice to deter money laundering and terrorism financing. Sinorich Finance are under several organizations legislation. This includes but not limited to AUSTRAC, ASIC and FINTRAC.  Sinorich Finance has the obiligation to be the part of the stability Australia financial system, we thoroughly comply the Act and rule, gradually improve compliance procedure and self enforcement. Sinorich Finance offers currency exchange and remittance services, we have an obligation to declare relevant transaction and information in accordance with the provisions of the Act.

Sinorich Finance is responsible for following obligations includes but not limited:

• Register as remittance Sector Register

• Have an AML/CTF programs

• Reporting obligations

• Keep records

• Sinorich Finance is responsible to collect information from customer includes but not limited:

• Customer identification

• Sauce of funds

• Remittance purposes

• Customer due diligence

Through Sinorich Finance affective Anti-Money Laundering and Counter-Terrorism Financing legislations and program, Sinorich Finance benefit from keeping away to involve in Anti-Money Laundering and Counter-Terrorism Financing activities, as well as for Sinorich Finance genuine customers. Please contact us if you have any questions.