This is Australia’s 4th Enhanced Follow-up Report (FUR) with technical compliance re-ratings.
The report analyses Australia’s progress in addressing some of the technical compliance deficiencies identified in its MER.
Overall, Australia has made progress in addressing some deficiencies and the following Recommendations have been re-rated:
Recommendation 10 is re-rated from Partially Compliant to Largely Compliant
Recommendation 13 is re-rated from Non Compliant to Compliant
Recommendation 15 has been re-rated Compliant to Partially Compliant
Recommendation 17 is re-rated from Partially Compliant to Compliant
Recommendation 18 is re-rated from Partially Compliant to Largely Compliant
Recommendation 26 is re-rated from Partially Compliant to Largely Compliant
Australia has 18 Recommendations rated Compliant, 12 Largely Compliant, 6 Partially Compliant and 4 Recommendations rated Non Compliant.
The country will report back to the FATF on progress achieved in improving the implementation of its AML/CFT measures in its 5th round mutual evaluation