Australian Department of Foreign Affairs and Trade
The Australian Department of Foreign Affairs and Trade (DFAT) oversees Australia’s foreign affairs, including the administration of sanctions. DFAT focuses on national security and international peace by implementing targeted sanctions against individuals and entities that threaten Australia's interests. The Department provides detailed guidance on compliance with these sanctions, ensuring businesses understand their obligations.
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1 List
| List Name | Records |
|---|---|
AUSTRAC Consolidated List of all persons and entitiesThe AUSTRAC Consolidated List is an essential resource that includes all individuals and entities identified as subject to financial sanctions in Australia. This list helps ensure legal obligations are met by screening clients and transactions. It is crucial for preventing money laundering and terrorism financing, as well as maintaining a secure financial system. Regularly checking the AUSTRAC Consolidated List allows businesses to remain compliant with Australian regulations and mitigate risks associated with dealing with sanctioned parties. | 3,777 |
FAQs
Why is compliance with Australian Department of Foreign Affairs and Trade necessary?
Complying with the sanctions set by the Australian Department of Foreign Affairs and Trade (DFAT) is essential for maintaining national security and promoting international peace. These sanctions are designed to prevent the proliferation of weapons, combat terrorism, and uphold human rights. Adhering to these regulations protects Australian businesses from legal repercussions and preserves Australia’s reputation on the global stage. By aligning with DFAT's guidelines, individuals and organizations contribute to a safer, more stable international community.
Which companies should comply with the Australian Department of Foreign Affairs and Trade?
The Australian Department of Foreign Affairs and Trade oversees sanctions that impact various industries, including finance, trade, defense, and telecommunications. Companies operating in these sectors must comply to avoid legal penalties, protect their reputation, and ensure national security. Adherence to these sanctions helps maintain international relations and prevents the proliferation of weapons and other illicit activities that threaten peace.
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