Anti-Money Laundering Policy
Since April 4, 2018, Newton has been a registered digital currency exchange. We are bound by Australian laws to ensure that the services we provide do not facilitate money laundering or terrorist financing.

 

We have implemented various Anti-Money Laundering (AML), Counter-Terrorism Financing (CTF) and fraud prevention measures designed to help us monitor, detect and prevent these attempts.

 

As part of complying with AUSTRAC reporting guidelines, we will report any incidents suspected of involving money laundering, proceeds of crime, terrorism, fraud or trafficking.

 

Newton will take reasonable measures to identify your identity when you open an account to comply with "Know Your Customer (KYC)" regulations. These measures are designed to protect you and the broader Australian community.

 

What is money laundering?
Money laundering is the process of converting proceeds of crime into legitimate money or other assets.

 

However, in many legal and regulatory systems, the term "money laundering" has become conflated with other forms of financial crime and is sometimes used more broadly to include the abuse of financial systems (involving securities, digital currencies, credit cards and traditional currencies, etc.), including terrorist financing, tax evasion and evasion of international sanctions.

 

What is terrorist financing?
Simply put, it is the concealment of the source of funds to be used for terrorist acts.

 

Who is AUSTRAC?
AUSTRAC is a financial intelligence agency established by the Australian Government to monitor financial transactions. Its main responsibilities are to identify money laundering, tax evasion, welfare fraud, terrorism and organized crime.