5.4 Monitoring, reviewing and enhancing an AML/CTF program |
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AML/CTF program monitoring regime
You need to set up a suitable system for routinely measuring or checking your AML/CTF program. The nature of this system or monitoring regime will depend on the size, nature and complexity of your business and the levels of ML/TF risks that you have to manage. The purpose of the monitoring regime is to ensure that your risk treatment process of identifying, mitigating and managing the ML/TF risks to your provision of designated services, is effective.
HB 436:2004 Risk Management Guidelines; Companion to AS/NZS 4360:2004 |
This handbook supports the respected standard for risk management released by Standards Australia in 2004. It provides generic guidance for establishing and implementing effective risk management processes. It contains detailed explanations for a range of approaches monitoring and improving a risk management method.
The Risk Management Guidelines handbook is available from the Standards Australia website: www.standards.org.au |
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