Minister for Justice media release: AUSTRAC risk assessment of financial planning industry
Last modified: 21/12/2016 12:55
Australia's first risk assessment of money laundering and terrorism financing within the financial planning industry has found a "medium" level risk across the sector.
This is the second risk assessment of key financial sectors by the Federal Government's financial intelligence agency AUSTRAC, following a report on the superannuation sector.
Australia's financial planning industry raised $4.6 billion in revenue in 2016 and is accessed by one in five Australians, so it's crucial that we work together with industry to protect it from criminal abuse.