AML/CTF program Frequently asked questions

AML/CTF Program Frequently asked questions

Frequently asked questions

What is FEPs AML/CTF Program?

Our online AML/CTF program is designed for any individual who is employed in a role where customer due diligence, reporting and record keeping is required to comply with obligations under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) or the Financial Transaction Reports Act 1988 (FTR Act).

It is a comprehensive training program to understand the AML/CTF in Australia.

Can I do the program online?
Yes, This program is offered by self study via our online learning portal, FEP Online. It provides you with online learning resources, online assessment and insightful tracking and reporting.

Is there an assessment component?
Yes. There are five (5) topics in this course. On completion of each topic, there is one knowledge examination. The examination is based on the subject matter in the given topic. Each knowledge examination is open book and does not need to be supervised. You may have three (3) attempts. Only the grade from your final attempt will count.

There are ten (10) multiple-choice questions in the knowledge examination for each topic. You require 80% (8 correct responses out of 10) in each topic to pass.

What Certification do I achieve?
On successful completion, participants will be awarded a Certificate of Attainment confirming that they have successfully completed The AML/CTF Program.

How long do I have to complete the program?
You can enrol anytime. Once enrolled, you have 8 weeks to complete the program.

Who is the AML/CTF program suitable for?

The program is suitable for AML/CTF advisers, compliance consultants and auditors, and professional services firms as well.

What is AUSTRAC’s role in money laundering and terrorism financing?

AUSTRAC is Australia’s anti-money laundering and counter-terrorism financing regulator and specialist financial intelligence unit. It is an Australian Government agency with a mandate specified in the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth.)

What is the AML/CTF Act?

The AML/CTF Act is part of a legislative package which brings Australia into line with international best practice to deter money laundering and terrorism financing.
Australia’s AML/CTF regime comprises the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (the AML/CTF Act) and the Anti-Money Laundering and Counter-Terrorism Financing Rules Instrument 2007 (No.1).

If you have questions about financial services regulation and what training is needed to satisfy requirements, information can be found in