ABA letter to the editor, Sydney Morning Herald 8 March 2016

Contrary to the suggestion banks are "thwarting money-laundering reform", banks fully support extending the law to non-financial businesses and professions ("The review that never concludes", March 7). Widening the regulatory net will help fight money laundering in Australia and put us in line with international best practice. It would also help businesses that do report under anti-money laundering and counter-terrorism financing laws to meet their compliance obligations.

Steven Münchenberg
CEO, Australian Bankers' Association

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