Powered by MOMENTUM MEDIA
the adviser logo
Compliance

AUSTRAC launches assistance tools as AML/CTF requirements kick in

by Staff Reporter2 minute read

Businesses across the financial services sector are now required to implement anti-money laundering/counter-terrorism financing (AML/CTF) programs after the most significant provision of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) came into effect yesterday.

In conjunction with the new requirements the Minister for Home Affairs Bob Debus announced a suite of tools to assist businesses meet their new obligations.

To continue reading the rest of this article, create a free account
Already have an account? Sign in

The tools include AUSTRAC Online, an information portal to help businesses lodge compliance reports as well as an introduction to AML/CTF – the first course in AUSTRAC’s e-learning program.

“These tools are designed to help businesses understand money laundering and terrorism financing impacts. The aim is to work in partnership with industry and implement Australia’s AML/CTF reform strategy together,” Debus said.

 

AUSTRAC launches assistance tools as AML/CTF requirements kick in
default
TheAdviser logo
default

JOIN THE DISCUSSION

You need to be a member to post comments. Register for free today

MORE FROM THE ADVISER

daniel tuttlebee resimac asset fInance ta l27zun

Resimac takes controlling stake in Sonder

Resimac Asset Finance has expanded its acquisition stake in equipment finance business Sonder Equipment Finance...

READ MORE
asic ta 2

ASIC seeks ‘common-sense solutions’ to breach reporting

The Australian Securities & Investments Commission (ASIC) has committed to “improving” the operation of the...

READ MORE
andrew mills homestart ta htfetw

HomeStart drops graduate loan deposit to 2%

HomeStart Finance, a non-bank lender backed by the South Australian state government, has lowered the deposit hurdle...

READ MORE
magazine
Read the latest issue of The Adviser magazine!
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
Read more