Reply To: client subject to fraudulent activity on investment platform. What are the AFSL\'s reporting requirements to authorities?

[Michelle Chasser]

Hi Patrick,

 

The requirements are complex and we would strongly advise you and/or your client seek legal advice, especially given the nature of this matter.

 

It is likely the incident will need to be reported to AUSTRAC and the Police.  You should also consider whether it needs to be recorded on the AFSL’s breach register.

 

For further information contact our financial services team.

 

Author: Michelle Chasser

Co-contributor:  Georgia Dixon