The 7th Global Conference on Criminal Finances and Cryptocurrencies was held on 26–27 October 2023 in the Hague, co-organised by Europol and the Basel Institute on Governance. The outcomes of the conference were five recommendations which highlight broad approaches and best practices to prevent and combat the use of crypto assets and services to make,…
DetailsIn a significant step towards safeguarding democracy and human rights worldwide, a coalition of democratic governments and organisations has issued the Declaration on Principles to Combat Transnational Repression. Spearheaded by Freedom House, the Lithuanian Ministry of Foreign Affairs, and the Alliance of Democracies, this declaration calls for immediate and coordinated action to address the growing…
DetailsAUSTRAC has released an important update concerning the Federal Court of Australia’s penalty against Crown Melbourne and Perth casinos last year. Crown was fined a staggering $450 million over two years for failing to comply with the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act). This case serves as a critical reminder of the…
DetailsThe Australian Securities and Investments Commission (ASIC) has taken decisive action to safeguard small businesses by disqualifying four directors from managing corporations. Between January 1 and March 31, 2024, ASIC banned these directors following their involvement in the collapse of multiple small proprietary companies, leaving numerous creditors, including the Australian Taxation Office (ATO), unpaid. Some…
DetailsMore than 6,000 entities will be required to report under new climate-related disclosure requirements in the next few years. They need to start preparing for the future, now. In a keynote speech at the Deakin Law School International Sustainability Reporting Forum on 22 April 2024, ASIC Chair Joe Longo addressed the imminent changes in financial…
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In a bid to safeguard the integrity of financial systems and combat illicit financial activities, the Serious Financial Crime Taskforce (SFCT) has intensified its efforts against false invoicing and other illegal financial arrangements. This proactive stance aims to curtail tax crimes and ensure a level playing field for businesses adhering to the law. Understanding…
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The Australian Law Reform Commission (ALRC) has released a report titled Maximising the Realisation of Human Rights: Religious Educational Institutions and Anti-Discrimination Laws. This report, tabled in Parliament on 21 March 2024, outlines significant legislative reforms aimed at aligning Australia’s anti-discrimination laws with its international legal obligations, particularly concerning religious educational institutions. Aligning federal…
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In a groundbreaking move, the International Criminal Court (ICC) Office of the Prosecutor has launched a public consultation for its new Policy on Slavery Crimes. This initiative, spearheaded by Prosecutor Karim A.A. Khan KC, marks the first time an international judicial institution has dedicated efforts to formulate a policy specifically addressing slavery crimes. Development…
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While the Australian Taxation Office (ATO) generally takes a cooperative approach to obtain documents or information, in some cases, it may use its formal access powers. This article explores the ATO’s formal access powers which allow it to gain access to premises and documents for the purposes of laws it administers. Scope of the…
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While the Australian Taxation Office (ATO) generally takes a cooperative approach to obtain documents or information, in some cases, it may use its formal access powers. This article explores the ATO’s formal access powers which allow it to gain access to premises and documents for the purposes of laws it administers. Scope of the…
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