Anti-Money Laundering and Counter-Terrorism Financing

The Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (‘the AML legislation’) is aimed at detecting and addressing the risk of money laundering and the threat to national security caused by the financing of terrorism.

The AML legislation imposes obligations on a wide range of financial service providers (known as Reporting Entities), including those in the banking, life insurance, managed funds and superannuation sectors. Key requirements include confirming the identity of their customers/investors, prior to providing a designated service, undertaking ongoing customer due diligence, and reporting any suspicious matters that may arise.

As a reporting entity and provider of designated services (for example, the issuing of units in managed investment schemes), BlackRock Investment Management (Australia) Limited ("BlackRock Australia") is required to comply with the customer identification and verification requirements imposed by the AML legislation and is therefore required to take all reasonable steps to verify the identity of investors making applications into the various Funds offered by BlackRock Australia prior to providing the designated service (accepting the investment).

For more detailed information on the AML legislation refer to the AUSTRAC website

BlackRock Australia's approach to compliance with the AML legislation.

Our approach to complying with the AML legislation is outlined below:

  • BlackRock Australia requires an investor applying to invest in a BlackRock Australia fund to complete the Investor Identification Form (and provide any supporting documentation requested) accompanying the application form for each fund. This should be submitted together with the application form.

  • We may from time to time request identification/verification documentation or other information from an investor or financial adviser to verify the investor's identity in compliance with the AML legislation.

    A list of acceptable identification documents that we may require to enable us to verify a customer's identity is provided in the Investor Identification Form.

    BlackRock Australia reserves the right to request additional information/documents as it believes necessary in order to comply with the AML legislation.

    Where documentation provided is not in English, an English translation must be provided by an accredited translator. An accredited translator is any person who is currently accredited by the National Accreditation Authority for Translators and Interpreters Ltd (NAATI) at the level of Professional Translator or above.

  • We are required to verify the identity of legal representatives and agents appointed to act on behalf of an investor. We cannot proceed to act on the instructions of a nominated legal representative until such time as we verify the identity of that representative.

    Appointed legal representatives include, but are not limited to, executors of estates, attorneys (appointed under power of attorney) and nominated representatives.