Australian Transaction Reports and Analysis Centre releases Perth Mint owner Gold Corporation from enforceable undertaking after AML/CTF remediation

The Australian Transaction Reports and Analysis Centre (AUSTRAC) has closed Gold Corporation’s enforceable undertaking (EU), formally releasing the Perth Mint operator after concluding it has met the obligations imposed to address Anti-Money Laundering and Counter-Terrorism Financing Act non-compliance. The EU, accepted in November 2023, followed findings of serious shortcomings in Gold Corporation’s systems, controls and reporting, including requirements around an ongoing customer due diligence program, suspicious matter reporting and maintaining enrolment details within required timeframes. AUSTRAC received a final external auditor progress report in May 2025 setting out how the company had completed remediation in line with the EU, and AUSTRAC cited both the auditor’s reports and its engagement with the firm as the basis for closing the undertaking. AUSTRAC also reiterated its expectations for ongoing vigilance given the money laundering risks associated with bullion, including concerns where high-risk products such as bullion are bought or sold using cash or cryptocurrency, and noted bullion dealers as a focus area in its 2024 regulatory priorities and national risk assessment.