Every reporting entity must implement and maintain an AML/CTF program. However, in recognition of the wide variety of businesses that are impacted, the AML/CTF Act provides for three variations of AML/CTF program. Each reporting entity must select the one that is most suitable to their respective business. The three types of AML/CTF programs are:

• a standard AML/CTF program, which applies to an individual reporting entity. It must include all the components set out in Chapters 4 and 8 of the AML/CTF Rules
• a joint AML/CTF program, which applies to each reporting entity that is a member of a designated business group (DBG), where each reporting entity member elects to have a joint AML/CTF program
• a special AML/CTF program, which applies where a reporting entity provides only designated services covered by item 54 of table 1 in section 6 of the AML/CTF Act. Item 54 of table 1 covers a holder of an Australian financial services licence who arranges for a person to receive a designated service, for example a financial planner who makes arrangements for one of his clients to receive a designated service.

Standard and joint AML/CTF programs are divided into Part A (general) and Part B (customer identification). The primary purpose of a special AML/CTF program is to set out the applicable customer identification procedure and only consists of Part B.

The core purpose of an AML/CTF program's Part A is to identify, mitigate and manage the ML/TF risk that a reporting entity may reasonable face in the provision of designated services.