Anti-Money Laundering and Counter-Terrorism Financing.

Our commitments

As a division of the Commonwealth Bank of Australia (the Group), Bankwest is committed to:

• meeting its regulatory obligations in the identification, mitigation and management of money laundering and terrorism financing risk; and
• seeking to protect our customers, employees and community from money laundering and terrorism financing activities, recognising we play a critical role in this regard.

AML/CTF Program

As a division of the Group, Bankwest complies with the Group's Joint Anti-Money Laundering and Terrorism-Financing Program (the Group's Joint AML/CTF Program), which has been prepared for the purposes of complying with obligations under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) (the Act) and the Anti-Money Laundering and Counter-Terrorism Financing Rules.

The Group's Joint AML/CTF Program is comprised of two Parts: Part A and Part B. The primary purpose of Part A is to identify, mitigate and manage the risk of being involved in or facilitating (whether inadvertently or otherwise) money laundering or the financing of terrorism. Part B documents the Program requirements in relation to customer due diligence information and verification for AML/CTF purposes.

The Group's Joint AML/CTF Program will apply to overseas subsidiaries in so far as the Act applies. Other policies and procedures may be put in place to assist an overseas subsidiary to comply with local AML/CTF laws.