AML/CTF Documents (Remittance Service)
Before providing a designated service, a business is required to have in place an Anti-Money Laundering and Counter-Terrorism Financing Program (AML/CTF Program).
Your AML/CTF Program and other associated documents must set out how you will comply with your obligations under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) and Anti-Money Laundering and Counter-Terrorism Financing Rules 2007 (Cth). This includes your AML/CTF-related processes, checks and procedures.
Do you know what your obligations are?
Do you comply?
Your AML/CTF Program must be based on your Money Laundering/Terrorism Financing (ML/TF) Risk Assessment, which assesses the risk that your business could be used for money laundering and/or terrorism financing, and sets out the controls that you have implemented to control this risk. Your AML/CTF Program should include all of your AML/CTF-related processes, checks and procedures.
Amongst other things, your AML/CTF Program will need to include specific details in relation to:
- how you will comply with your reporting obligations, (and the systems and controls to ensure compliance with those reporting obligations);
- your business’ AML/CTF risk assessment;
- your risk-based systems and controls to monitor customer transactions; and
- the identification procedures which apply to your customers.
This template reflects the generic obligations of businesses providing remittance services, and must be tailored to reflect your business.
Included documents
Document | Version | Type | Date |
---|---|---|---|
AML/CTF Program (Remittance Services) | 3.0 | Program | 16 Aug. 2023 |
AML/CTF Annexure C (Remittance Services) | 2.0 | Tool | 11 March 2022 |
AML/CTF Annexure D | 2.0 | Tool | 11 March 2022 |
AML/CTF Risk Register (Remittance Services) | 2.0 | Register | 11 March 2022 |
AML/CTF Risk Register User Instructions | 1.0 | Guide | 25 Feb. 2021 |
AML/CTF Compliance Officer Report | 1.0 | Tool | 1 March 2021 |
AML/CTF Reporting Obligations Mindmap | 1.0 | Mindmap | 26 Nov. 2019 |
Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML CTF Act) – Overview of Obligations Mindmap | 2.0 | Mindmap | 14 March 2024 |