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AUSTRAC launches online anti-money laundering eLearning application

Minister for Justice and Customs
Manager of Government Business in the Senate
Senator for Western Australia

The Minister for Justice and Customs, Senator the Hon. Chris Ellison today, formally launched AUSTRAC's internet-based anti-money laundering (AML) eLearning application.

The AML eLearning application will provide a user-friendly, internet-based resource to enhance industry and general public awareness of the broader anti-money laundering and counter-terrorism financing  (AML/CTF) environment and the various obligations imposed by the Financial Transaction Reports Act 1988 (FTR Act).

'Development of the AML eLearning application is an extension of AUSTRAC's comprehensive AML education program and is a good example of the ongoing commitment by AUSTRAC and industry to work together to ensure compliance with Australia's AML/CTF regime,' Senator Ellison said.

'Importantly, it will also provide industry with a comprehensive resource that will assist them to understand and meet future anti-money laundering requirements as they develop in Australia,' he said.

'The easy electronic accessibility of the AML eLearning application also reflects the Australian Government's ongoing commitment to best practice regulation whilst reducing the compliance burden for industry,' Senator Ellison said.

The AML eLearning application contains 15 specific issue modules with a total learning content of approximately eight hours. The specific issue modules can be categorised within 3 groups:

  • general AML information;
  • Australian-specific legislative obligations; and
  • potential best practice models for counter-terrorist financing and anti-money laundering compliance.

'The AML eLearning application will be an evolving resource and updated as necessary to reflect both international and domestic changes to the broader AML/CTF environment' the Director of AUSTRAC, Mr Neil Jensen said.

AUSTRAC's AML eLearning application can be accessed via the AUSTRAC website.

Media enquiries:

Brad Burke (02) 6277 7260 or 0417 749 711.

Last modified: 18/03/2013 00:00