Whitelight AML is pleased to announce the launch of its Anti-Money Laundering (AML/CTF) outsourcing service.

PRESS RELEASE

30 July 2024 | Sydney

WhiteLight AML Launches Australian Anti-Money Laundering Outsourcing Service

WhiteLight AML is pleased to announce the launch of its Anti-Money Laundering (AML/CTF) outsourcing service. This new offering has been configured to meet the likely compliance needs of businesses impacted by the imminent Tranche 2 AML/CTF legislation, along with the existing needs of cryptocurrency, gambling and bullion dealers.

WhiteLight AML’s Strategic Account Director, Tomas Jordan, said "Our full-service AML outsourcing capability provides Tranche 2 entities with a one-stop-shop solution, delivering all of the components required to meet their AML obligations. This service complements our existing AML/CTF consulting and recruitment business, which has worked with many of Australia’s leading banks, gambling businesses, and Big4 accounting firms since 2016."

WhiteLight AML offers two primary options for small to medium sized entities to fulfill their AML obligations:

• Full-Service Outsource: WhiteLight AML manages all setup and daily AML operations, perfect for businesses seeking to minimise the impact on their business while still meeting their AML obligations.

• Prepackaged Solution: This option allows larger businesses to run an in-house AML operation. WhiteLight AML provides all necessary documentation, training and technology, while the business supplies the staff. WhiteLight.AML can also provide permanent and contract AML analysts. This solution is ideal for larger organisations or franchisors aiming to offer AML compliance services to their franchisees.

Tomas Jordan added, "We believe that launching our AML outsourcing service now gives Tranche 2 entities the opportunity to evaluate their options and make timely plans. For businesses opting for in-house AML operations, the next few months are crucial for implementing our solution, anticipating that the new AML/CTF legislation will be enacted by the end of this year. Starting now should be more cost-effective and less disruptive to their business operations."

About WhiteLight AML

WhiteLight AML specializes in providing comprehensive AML solutions tailored to meet the unique needs of businesses across various sectors. With a focus on operational excellence and regulatory compliance, WhiteLight AML is dedicated to helping clients meet their

AML/CTF obligations.

For More Information

For more information about WhiteLight AML, please contact Tomas Jordan at

+61 474 532 958 or tomas.jordan@WhiteLightaml.com.au