GOLD CORPORATION — RISK MANAGEMENT
710. Mr R.S. LOVE to the Minister for Mines and Petroleum:
I have a supplementary question. Is
the minister satisfied that Gold Corporation is currently conducting due
diligence on all high-risk clients, including customers from areas such as the
United Arab Emirates?
Mr W.J.
JOHNSTON replied:
What I say to the member is: the
good news is that we have a dynamic and effective chief executive officer in
Jason Waters. The change to the business since Jason Waters came into the
business has been remarkable. For example,
the obligations that had never been complied with at any time under the former
government for registration in the United States, in respect of customer
protection issues over there, have been found by Jason Waters in his role as the CEO of Gold Corporation. I go back and
answer the question again exactly as I did in the first part: we are working through all the ''know your
customer'' obligations, and the business, as has been announced
previously by the Australian Transaction Reports and Analysis Centre, is
working with relevant authorities on the arrangements that AUSTRAC has requested.