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 imposed on a wide range of financial services organisations including financial services firms; banks; building societies; credit unions; superannuation funds; and on the gambling sector.

Sophie Grace has real and extensive legal and compliance experience in AML/CTF 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 are effective and efficient.

The key areas of an AML/CTF program are:

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

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