17 February 2022 - AUSTRAC orders audit of three Bell Financial Group entities’ compliance with financial crime laws

AUSTRAC has identified compliance concerns following a period of engagement with the Australian-based Bell Financial Group. Members of the Bell Financial Group are regulated by AUSTRAC and provide stockbroking, foreign exchange, loans, investment and financial advisory services.

The external auditor must report to AUSTRAC within 180 days of being appointed and will examine the three entities’ compliance with:

  • The requirement to have an AML/CTF program and comply with Part A of that program
  • The requirement to have an ongoing customer due diligence program
  • Suspicious matter report reporting obligations
  • Maintenance of enrolment details within required timeframes.

Financial Education Professionals acknowledges the Traditional Owners of Country throughout Australia. We pay our respects to Elders past, present and emerging.