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AML/CTF Programs

An AUSTRAC reporting entity is required by the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Act 2006 to adopt and maintain procedural documentation to address the obligations imposed by the Act. The AML/CTF Program must comply with the AML/CTF Rules.

 

 

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AML/CTF Programs

Sophie Grace can provide an AML/CTF Program tailored to your businesses needs to ensure that you comply with the obligations under the AML/CTF Act and Rules.

This may include the following:

  • Identification and analysis of money laundering and terrorism financing risks;
  • Risk awareness training programs for employees;
  • Processes for monitoring and reporting transactions;
  • Ongoing customer due diligence and enhanced customer due diligence procedures;
  • Know Your Customer procedures – collection and verification of information.

Remitters

If you provide remittance services, you will be required to have an AML/CTF Program in place in order to finalise your registration with AUSTRAC. Sophie Grace can provide an AML/CTF Program which is tailored to your remittance business.

If you would like further information of assistance, please contact Sophie Grace directly.