AML/CTF compliance
Regulatory compliance is at the heart of LexPro. We maintain an Anti-Money Laundering and Counter-Terrorism Financing Program adopted under the AML/CTF Act, and we are registered with AUSTRAC on the Remittance Sector Register. Our compliance controls protect our customers, our business and the financial system.
01 Measures
Our compliance measures include
Know your customer.
We verify each customer’s identity before they transact, using identity documents and electronic verification. For company and trust customers we also identify the beneficial owners. Where we cannot verify a customer to the standard our AML/CTF Program requires, we do not proceed.
Sanctions and PEP screening.
All customers and transactions are screened against international sanctions lists and politically exposed person lists. Our Ellisa platform flags any individual or entity that appears on a restricted list. Every match is reviewed by our compliance team before a transfer proceeds.
Transaction monitoring.
Transfers are monitored for unusual patterns and red flags. Our Ellisa platform applies data intelligence and pattern recognition to identify potential fraud or money laundering. Where something is flagged, our compliance team reviews it.
AUSTRAC reporting.
LexPro Pty Ltd is registered with AUSTRAC on the Remittance Sector Register, registration number IND100874086 001. AUSTRAC is Australia’s anti-money laundering and counter-terrorism financing regulator. Registration is not a licence and is not an endorsement of our business.
We submit the reports the AML/CTF Act requires, including threshold transaction reports, international funds transfer instructions and suspicious matter reports. Our compliance team oversees reporting.
Staff training and evaluation.
Our team receives regular AML/CTF training, and our AML/CTF arrangements are evaluated periodically by a person who does not operate them.
Customer data protection.
Compliance goes hand in hand with privacy. Personal data collected for customer identification and transaction purposes is handled in accordance with our Privacy Policy and the Privacy Act 1988 (Cth). We protect information through encryption and secure storage.
02 Summary
These measures are how LexPro meets its obligations under the AML/CTF Act. A strong compliance culture is central to how we operate, and our controls are reviewed as our business changes.