Compliance

Tawakal Express Australia Pty Ltd is required under the Australian Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) Act (Cth) 2006, the AML/CTF Rules and Guidance Note issued by AUSTRAC (Australia’s AML/CTF regulator), to comply with both prescribed (i.e. non risk-based) and risk-based obligations.

Tawakal Express places the utmost importance on upholding its reputation to the highest standards demanded of the industry in which it plays, and complying with the laws and regulatory obligations imposed by Australia.

Tawakal Express will meet its obligations under Australian law, and support the integrity of the financial system and the community at large by adopting and maintaining a robust anti-money laundering and counter-terrorism financing (AML/CTF) program. The primary purpose of Tawakal Express Australia Pty Ltd.’s AML/CTF Program is identifying, mitigating and managing the risk that Tawakal Express may reasonably face of its products and services being involved in or facilitating money laundering or terrorism financing.

Tawakal Express adopts a risk-based approach to the prevention of money laundering (ML) and terrorism financing (TF) and seeks to ensure appropriate risk-based systems and controls are put in place through:

• having regard to the nature, size and complexity of Tawakal Express business
•  Be alert and report suspicious transactions
•  identification and analysis of the risk of ML or TF Tawakal Express might reasonably face
•   implementation of controls to manage and mitigate ML/TF risk and ongoing monitoring of Tawakal Express Australia Pty Ltd AML/CTF Program.