The Anti-Money Laundering and Counter-Terrorism Financing Act (AML/CTF) imposes a risk-based approach to counter the money laundering problem. The obligations under the AML/CTF Act are obligatory for a wide range of financial services organisations including financial services firms; banks; building societies; credit unions; superannuation funds; and on the gambling sector.

Here at Sophie Grace, we have demonstrated legal and compliance experience to comply with AML/CTF obligations in Australia. With skills in AML/CTF, risk identification and compliance framework design, clients are given confidence that their AML/CTF needs are not only met, but the procedures in place are effective and efficient.

Key Areas

The key areas we target to enhance our client’s AML/CTF procedures are as follows:

  • Know Your Customer (KYC);
  • Ongoing Customer Due Diligence (OCDD);
  • Record Keeping;
  • Suspicious Matter Reporting;
  • Training and awareness of all staff;
  • Review of the AML/CTF Program; and
  • Appointment of an AML/CTF Compliance Officer.

We have included a variety of resources below to provide you with the information required to equip you with confidence when complying with your businesses AML/CTF obligations.

How can Sophie Grace Assist you?

Sophie Grace will work with your organisation to achieve compliance with all of these obligations.