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Proposed amendments to Chapters 3, 6, 7 and 10 of the AML/CTF Rules

Status
Open for submissions
Submission deadline

AUSTRAC has released proposed amendments to the following chapters of the Anti-Money Laundering and Counter-Terrorism Financing Rules for public consultation:

  • Chapter 3 – Correspondent banking
  • Chapter 6 – Customer identification and verification
  • Chapter 7 – Reliance on customer identification carried out by another reporting entity
  • Chapter 10 – Gambling services.

The proposed changes are to support reforms to the AML/CTF Act made by the Anti-Money Laundering and Counter-Terrorism Financing and Other Legislation Amendment Act 2020 (Phase 1.5 reforms).

The consultation period for these amendments is 27 January 2021 until 11 March 2021.

Consultation document

Explanatory Note for Consultation and draft amendments to Chapters 3, 6, 7 and 10 of the AML/CTF Rules (PDF, 545KB)

How to make a submission

Submissions on proposed amendments to the AML/CTF Rules should be made in writing and sent to: 

Email: aml_ctf_rules@austrac.gov.au

By mail:
Director
Policy and Rules
AUSTRAC
PO Box 5516
West Chatswood NSW 1515

Publication of submissions 

Submissions may be published.

When making a submission, you may choose to remain anonymous or use an alias. However, if you do remain anonymous, we will not be able to contact you to discuss your submission should we need to.

Your submission will not be treated as confidential unless you specifically request that we treat the whole, or part of it (such as any personal or financial information), as confidential.

Submissions received

No submissions are currently available.

Privacy notice

AUSTRAC ensures the protection of any personal information provided to it, as required by the Privacy Act 1988.

AUSTRAC collects personal information to fulfil its functions under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 and other relevant Commonwealth legislation. AUSTRAC's collection of personal information is authorised by this legislation and the Privacy Act 1988.

Please refer to AUSTRAC’s Privacy Policy for additional information regarding AUSTRAC's privacy practices including how we handle personal information, your rights to seek access to and correct personal information, and your right to complain about breaches of privacy by AUSTRAC.