AML risks for super funds

The superannuation industry is becoming an attractive target for money laundering and associated predicate crimes—particularly those cyber-enabled—due to its size ($3.5 trillion in assets) and increasing digitisation. Therefore, superannuation funds must stay abreast of money laundering threats facing the industry to ensure they are appropriately protected and remain compliant with their anti-money laundering obligations.

This virtual workshop, facilitated by Lisa-Marie McKechnie, Partner at Piper Alderman, and Kerry Jacobs, Senior Associate at Piper Alderman, provides an update on money laundering threats in the superannuation industry, along with latest insights and practical guidance on how superannuation funds can mitigate these threats and otherwise ensure compliance with their anti-money laundering obligations.

Key topics to be discussed include:

• An update on key anti-money laundering and counter-terrorism financing obligations for reporting entities in the superannuation industry and consequences for non-compliance with these obligations.
• The current money laundering threat landscape, significant shifts and emerging risks for the superannuation industry, having regard to the latest information released by AUSTRAC.
• Industry insights and practical guidance on how superannuation funds can mitigate money laundering threats and otherwise ensure compliance with their anti-money laundering and counter-terrorism financing obligations.
• The ever-rising risk of cybercrime and how businesses can ensure preparedness including by management of third party risks.
• Latest regulatory activity and focus areas including recent industry insights, guidance and enforcement actions by AUSTRAC.

Who should attend?

• Trustees and directors
• CEOs, and senior management staff
• Governance, compliance and risk professionals
• Service Providers
• Those who support the board/trustee function