I am writing to share with you our Annual Risk Classification of Customers, as classified under European Union Anti Money Laundering (AML) Regulations.
AML is a topical issue, and the risk it imparts to any prudentially regulated business should be disclosed by the regulated entity. We have sadly seen some clear failures in these disclosures by other ASX regulated entities, such as Westpac, which have had momentous consequences for those companies.
ISX reports these numbers to our prudential regulators in the EU, as they allow the regulator to form a view of the risk profile of entities which they regulate.
The number of high-risk customers on ISX’s books has also been of great interest to the ASX over the past few months, and a part of the series of questions we have received and answered as a company.
The Company had placed this on the ASX Markets Announcement Platform (“MAP”) this morning for release to market, however, the ASX has deemed this as “marketing material”, that is not suitable for release.As you can see from the report, high-risk customers make up less than 6% of our overall business.
