Introduction to AML/CTF

Enrolling with AUSTRAC

It is mandatory for all reporting entities to enrol with AUSTRAC. Enrolment enables AUSTRAC to better identify its regulated population and is particularly important for AUSTRAC to determine the supervisory levy.

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Remittance Providers Registration

Under the AML/CTF Act, remittance service providers have an obligation to register with AUSTRAC. From 1 November 2011, these obligations were amended and all remitters including those which previously registered with AUSTRAC need to re-register with AUSTRAC. In this module we will look at remittance services, including alternative remittance, and what remittance service providers need to do to meet their AML/CTF Act obligations.

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Know Your Customer

Knowledge about a customer's identity is necessary for identifying a money laundering or terrorism financing risk. In this module we will look at the principal elements and requirements of a 'know your customer' (KYC) policy.

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AML/CTF Reporting Obligations

The transaction reporting obligations under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) came into effect on 12 December 2008. In this module we will look at the different report types and how and when reports are made.

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AML/CTF Programs

AML/CTF programs are a requirement under the AML/CTF Act. The primary purpose of an AML/CTF program is to identify, mitigate and manage the ML/TF risk and to set out applicable customer identification procedures. In this module we will look at the parts of an AML/CTF program.

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Last updated: Friday, 28 October, 2011