❓ A WA parliamentary question on notice addresses Gold Corporation's risk rating of customers, resolution of AUSTRAC deficiencies, and awareness of AML/CTF obligations. The response indicates ongoing issues with AUSTRAC compliance.
AnsweredQoN 593Legislative Assembly
Asked
26 October 2022
Member
Portfolio
Mines and Petroleum; Energy; Corrective Services; Industrial Relations
QuestionView source ↗
(1) Does Gold Corporation have a risk rating against all customers: (a) If yes when did this process begin; and (b) If no, how many customers exist without any risk rating? (2) Have Gold Corporation fully resolved all previous deficiencies identified by any Australian Transaction Reports and Analysis Centre (AUSTRAC) audits or investigations since 2017? If no what deficiencies remain unresolved? (3) Was Gold Corporation unaware that the types of transactions it was undertaking were covered by the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) regime?
AnswerView source ↗
Answered
29 November 2022
Responded by
Minister for Mines and Petroleum; Energy; Corrective Services; Industrial Relations
Response time
8 days
1) Yes
a) Designated services customers have been risk-rated at an enterprise level since 2020. Prior to this, customers were risk-rated at a business-unit level.
b) N/A
2) No. Despite significant improvements, remaining deficiencies are subject to AUSTRAC review and are confidential.
3) No. Current Gold Corporation management is aware of AML/CTF obligations when providing designated products and services.
a) Designated services customers have been risk-rated at an enterprise level since 2020. Prior to this, customers were risk-rated at a business-unit level.
b) N/A
2) No. Despite significant improvements, remaining deficiencies are subject to AUSTRAC review and are confidential.
3) No. Current Gold Corporation management is aware of AML/CTF obligations when providing designated products and services.
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