AUSTRAC’s AML/CTF reforms do not make ECDD automatically required for family trusts or SMSFs. ECDD is required when trust CDD...
AUSTRAC does not prescribe a standard AML/CTF governance evidence pack. However, reporting entities should maintain documented evidence demonstrating that AML/CTF...
AUSTRAC expects reporting entities to maintain an AML/CTF risk assessment that accurately identifies, assesses and documents their money laundering, terrorism...
Under the AML/CTF regime, AUSTRAC expects reporting entities to identify and assess unusual activity that may indicate money laundering, terrorism...
AUSTRAC expects Tranche 2 entities to apply the AML/CTF customer due diligence framework when providing a designated service, unless a...
AUSTRAC expects an AFS licensee using discretionary MDA arrangements to have full AML/CTF controls where advisers provide Item 3 services....
ASIC and AUSTRAC expect an AFS licensee using MDAs to have specific authorisations, supervision, governance, and AML/CTF controls in place....
AUSTRAC’s Item 54 exemption generally still applies when an adviser only recommends or arranges access to an MDA. Increased AML/CTF...
Yes. AUSTRAC generally treats discretionary transacting on an MDA as potentially outside Item 54-only relief and within Item 3, where...
AUSTRAC’s AML/CTF framework requires reporting entities that provide designated services to retain customer due diligence (CDD) records for at least...