❓ Mr. Love questions the Minister for Mines and Petroleum regarding Gold Corporation's compliance with anti-money laundering and counter-terrorism financing laws, specifically the Enforceable Undertaking. The Minister confirms completion of the remediation program and outlines improvements and monitoring mechanisms.
AnsweredQoN 1359Legislative Assembly
QuestionView source ↗
I refer to the Enforceable Undertaking (EU) entered by Gold Corporation to improve compliance with Australia’s anti-money laundering and counter-terrorism financing laws, and I ask: (a) Has the remediation program, required to be completed by April 2025, now been finalised; (b) What specific improvements have been made; and (c) How is the effectiveness of the compliance program being measured, and how will those outcomes be reported or made public?
AnswerView source ↗
Answered
17 February 2026
Responded by
Minister for Mines and Petroleum
Response time
4 days
(a) Yes. I advised the House of this on 14 August 2025.
(b) Improvements include updates to business processes to ensure ongoing compliance and remedy known issues; remediation and enhancement of customer data to ensure compliance with Know Your Customer requirements; and implementation of technology solutions to support improved processes and uplift compliance, monitoring and reporting capabilities.
(c) As required under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) (AML/CTF) regular independent reviews of Gold Corporation’s Anti-Money Laundering program are required to ensure the program meets the requirements of the Act.
In addition, Gold Corporation conducts an annual internal audit program across its business units, which may include components of the AML/CTF program, to ensure controls to mitigate business risks are effective and working as designed. The Audit and Risk Management Committee and Gold Corporation Board receive regular reports on the operation of the AML/CTF program, including the outcome of any review or internal audit.
Gold Corporation also has a compliance obligations system which records and tracks compliance with legislative obligations, including those relating to AML/CTF.
Further to the statutory reports published by Gold Corporation which include compliance information, I reiterate my commitment to keep the Parliament informed on matters relating to Gold Corporation.
(b) Improvements include updates to business processes to ensure ongoing compliance and remedy known issues; remediation and enhancement of customer data to ensure compliance with Know Your Customer requirements; and implementation of technology solutions to support improved processes and uplift compliance, monitoring and reporting capabilities.
(c) As required under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) (AML/CTF) regular independent reviews of Gold Corporation’s Anti-Money Laundering program are required to ensure the program meets the requirements of the Act.
In addition, Gold Corporation conducts an annual internal audit program across its business units, which may include components of the AML/CTF program, to ensure controls to mitigate business risks are effective and working as designed. The Audit and Risk Management Committee and Gold Corporation Board receive regular reports on the operation of the AML/CTF program, including the outcome of any review or internal audit.
Gold Corporation also has a compliance obligations system which records and tracks compliance with legislative obligations, including those relating to AML/CTF.
Further to the statutory reports published by Gold Corporation which include compliance information, I reiterate my commitment to keep the Parliament informed on matters relating to Gold Corporation.
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