AUSTRAC releases Perth Mint operators from enforceable undertaking
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The news: The Australian Transaction Reports and Analysis Centre has closed Perth Mint operator Gold Corporation’s enforceable undertaking as it has made sufficient investments to improve its anti-money laundering and counter-terrorism financing (AML/CTF) systems.
The context: Gold Corporation accepted a court-enforceable undertaking in November 2023 after AUSTRAC found the company was not meeting its anti-money laundering obligations, with a subsequent audit finding that preventative measures were inadequate.
This included failure to have an ongoing customer due diligence program, report suspicious matters to AUSTRAC and maintain enrolment details within required timeframes.
Having received a final progress report in May 2025 from an external auditor, AUSTRAC chief executive Brendan Thomas said the regulator “is satisfied Gold Corporation has met its obligations”.
What they said: “As a result of the EU, Gold Corporation has made an ongoing investment in its AML/CTF systems and controls and have made a commitment to undertake continuous review and improvement,” Thomas said.
The AUSTRAC boss also stressed that “compliance with AML/CTF requirements should be a given, it’s what is expected and what is required of any business with obligations under the Act".
“It shouldn’t take AUSTRAC intervention and an EU, to get a business to focus on its money laundering risk," he said.
The source: AUSTRAC media release
