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Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2024
38Subsection 161(1)
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38 Subsection 161(1)
(1) This section applies if the AUSTRAC CEO has reasonable grounds to suspect that a reporting entity has not taken, or is not taking, appropriate action to identify, assess, manage or mitigate the risks of money laundering, financing of terrorism and proliferation financing that the reporting entity may reasonably face in providing its designated services at or through a permanent establishment of the reporting entity in Australia.