AML Amendment Bill introduced

The Attorney-General has introduced the Anti-Money Laundering and Counter-Terrorism Financing Amendment Bill 2007 into Parliament to amend the AML/CTF Act.

The Bill addresses operational and technical issues, as well as taking into account concerns raised by Reports of the Standing Committee on Legal and Constitutional Affairs and the Senate Standing Committee for the Scrutiny of Bills. Some of the changes will be backdated to 12 December 2006 when the Act commenced.

Austrac has issued draft revised AML/CTF rules for comment.

These draft AML/CTF Rules set out specific requirements on matters such as customer identification, ongoing customer due diligence, reporting of suspicious matters and AML/CTF programs.

Austrac has also published the Policy (Civil Penalty Orders) Principles 2006 .

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Seize the day at ACUI Conference

If you're coming to the ACUI Conference in Brisbane from 26-28 February, start your day positively with a brisk early morning guided walk, taking in some of the sights of Brisbane city, with some stops for gentle stretching along the way. A great way to stay fit and recharge your energy levels so you can fully enjoy your 2007 ACUI conference experience.

These sessions are being sponsored by Network Law and will be held on Monday, Tuesday and Wednesday from 6.30am. Meet at the main entrance to
the Convention & Exhibition Centre, Brisbane. We look forward to seeing you!

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Network Law website changes

Our website has been upgraded to improve our services to you.

For clients, all Instruction Forms have been altered to show the principal office address
of the Lender, with the option for the client to change it to a branch address. This allows branch offices to send instructions.

If you have any problems, contact your local Network Law representative or email help@networklaw.com.au

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