AML/CTF Programs

What is an AML/CTF program?

The Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) requires reporting entities to adopt, maintain and comply with an AML/CTF program.

This requirement is central to the risk-based approach of the AML/CTF Act.

An AML/CTF program is divided into Part A (general) and Part B (customer identification).