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Ernst & Young (EY) hosted a webcast on Tuesday February 26th titled Financial Crime which discussed the importance of effective Transaction Monitoring (TM) as well as TM system implementation. If you were unable to listen to the webcast, we have summarised the key points from the webcast below. EY Transaction Monitoring survey The EY TM survey found large Financial Institutions follow a common journey as the Anti-money laundering (AML) TM capability evolves over time. This journey typically has two big cost humps and a long cycle of efficiency, broken up into six stages: 1. Introducing and AML TM solution, 2. Stabilisation...

Using the PPSA to Protect your Business Many businesses believe the PPSA to be an onerous obligation, only relevant if you hire out equipment, completely missing the very significant benefits the PPSA provides for any business selling goods on credit. One of its principal goals is to help protect you from the insolvency of your customers. It doesn’t matter what you sell, the PPSA is here to help you.  A simple rule of thumb – if you have retention of title (ROT) in your terms of trade you should be complying with the PPSA.  If you don’t, you should now...

Finance Solutions for Energy Efficient Assets Have you ever thought of investing in solar PV and energy efficient assets but thought there is too much cost involved and you just can’t fathom getting started? The good news is there are finance solutions available which allow you to acquire these types of assets sooner rather than later. Any purchase of energy efficient assets over $10,000 is eligible for asset finance and you can either use the finance to rent or purchase the assets. How financing energy efficient assets can assist you: Improve cash flow by avoiding large upfront costs and rather...

How to Better Manage and Reduce your Taxation Debt If you are in the unfortunate position of not being able to meet your ATO liabilities as and when they fall due, you need to be very careful about how you deal with this situation. One option is to seek finance from a specialist lender to cover your obligations. The benefit of this is that the ATO doesn’t become a potentially vexatious creditor whose presence in your creditors listing will generally trigger default with your bank or other lenders. Alternatively, you can enter into a repayment arrangement with the ATO. Whilst...