Schedule A Free Call

FAQ

How can advice firms implement effective AML/CTF procedures relevant to their advice business?

Financial advisers are reporting entities under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth). They must develop and maintain an AML/CTF program that includes:

  • Customer identification and verification (KYC) processes;
  • Ongoing customer due diligence;
  • Suspicious matter and threshold transaction reporting to AUSTRAC;
  • Staff training and periodic independent review.

AUSTRAC’s AML/CTF Programs and Compliance Guidance provides detailed implementation advice. For advice firms, this often involves embedding AML checks into onboarding workflows and file reviews.

Subscribe

Every fortnight “Three Hit Tuesday” delivers thought leadership, considered analysis and insights that will help you improve your advice, more effectively manage your regulatory risks and make you better informed than your peers.

AS-Subscribe Form

"*" indicates required fields

This field is for validation purposes and should be left unchanged.

We respect your privacy. We know everyone says that, but we promise that we won’t sell your contact details to dodgy telemarketers, spam your email or otherwise exploit your trust.

Step 1 of 8 - Your Role

This field is for validation purposes and should be left unchanged.

Assess your ASIC exposure

Answer a few targeted questions to identify where your compliance may not stand up under ASIC review.

Takes less than 2 minutes. No preparation required.

What best describes your role?