AML/CTF regulation in Australia

Overview

Financial services organisations play a vital role in Australia’s AML/CTF framework – they’re at the frontline of actions to interrupt the work of criminals who want to use financial systems for money laundering or terrorism financing. AUSTRAC aims to build resilience in the financial system and use financial intelligence and regulation to disrupt money laundering, terrorism financing and other serious crime.

About our online compliance training

Our AML/CTF regulation in Australia module is part of a suite of engaging compliance training designed to meet regulatory compliance and conduct requirements.

In this module we explore legislative frameworks that guides financial institutions and their work to prevent money laundering and terrorism financing, as well as the steps you can take to support these activities.

You should give all your relevant employees regular AML/CTF risk awareness training, including board members, directors, operational staff, contractors and consultants who are involved in providing designated services to your customers, in line with your ML/TF risk assessment. AUSTRAC Employee AML/CTF risk awareness training.

This module will help you understand the importance of some of the reports and actions you must consider in your work.

The relevant laws and regulations governing these requirements are:

Program Content

Learning Outcomes

  • Explain what money laundering and counter-terrorism financing are
  • Identify the regulatory instruments and the regulatory body in charge of managing Australia’s response to AML/CTF
  • Outline your responsibilities to identify your customers
  • Explain your responsibility to monitor and report on transactions.

What you will learn

Who is this course for?

  • All financial representatives must be trained to adhere to financial services-specific regulation and industry codes with respect to conduct.

Units of Competency

Pre-requisite

Recognition of Prior Learning

Certification

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