Part A: Risk Management
ML/TF risk assessment, governance, compliance officer, staff training.
Program
AML/CTF Program. Your Compliance Foundation
What is an AML/CTF program? Learn the requirements for Part A and Part B under AUSTRAC regulations.
What is an AML/CTF program?
According to AUSTRAC, an AML/CTF program protects your business from criminal exploitation through money laundering, terrorism financing and proliferation financing. It helps you fulfil your obligations and contributes to a safer Australian financial system.
You must have a program in place before you start providing designated services.
Program requirements
Part B: Customer ID
Customer identification, beneficial owners, PEPs.
Written Document
Must be documented and available for review.
Independent Review
Required every 3 years minimum.
Frequently asked questions
What is an AML/CTF program?
A written document showing how you identify, mitigate and manage the risk of your services being used for money laundering or terrorism financing.
What must Part A include?
ML/TF risk assessment, board oversight, compliance officer, employee due diligence, training, and systems for reporting obligations.
What must Part B include?
How you identify customers and beneficial owners including PEPs, and the ML/TF risk they pose.
Related resources
CDD for your program
ARCaml handles customer due diligence — a key part of your AML/CTF program.