CDD Reliance Agreement - All

If a reporting entity intends to rely on aspects of another reporting entity’s customer due diligence (CDD), they can use this template agreement to document the terms on which that reliance will occur. It has been developed having regard to the AML/CTF Act and AML/CTF Rules (including section 37A and Rule 6 29), as well as AUSTRAC guidance. It is intended to assist reporting entities to formalise a CDD reliance arrangement, including:

• the scope of reliance on KYC procedures and records
• allocation of responsibilities
• access to records
• ongoing compliance obligations for each party.

It also provides a structured framework to address key risk areas, including CDD reliance risk assessments, record keeping obligations, confidentiality, and liability. Like any template, this agreement must be tailored to reflect the specific relationship and risk profile of the parties.