AML/CTF for finance sector – Australia

Product Description

Money laundering is the process by which money obtained through criminal activities is given the appearance of having come from a legitimate source. The money in question may come from drug trafficking, terrorist activities, tax evasion or other crimes. It usually involves moving the funds around the banking system until they can no longer be linked to the criminal activities they were sourced from.

In order to reduce the risk of money laundering and the financing of terrorism, reporting entities have obligations under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006. The Salt Compliance Anti-Money Laundering course trains reporting entities and their representatives to understand their obligations and provides a general understanding of the risks related to money-laundering and terrorism financing.

We explain how to adopt an AML program, conduct Know-Your-Customer procedures and to provide reports to Australia’s anti-money laundering regulator AUSTRAC.The intent of this course is to provide a general understanding of money-laundering and terrorism-financing risks, and give specific understanding of the various legislative obligations imposed by the Act.

Who should do this training?

This training is designed as an introduction for all employees of deposit taking institutions that operate only in Australia. It also includes advanced modules relevant to managers and staff with specialised roles

Course Outline

  • Module 1: Introducing AML/CTF
  • Module 2: ML/TF Methodologies
  • Module 3: Customer due diligence
  • Module 4: Ongoing customer monitoring
  • Module 5: Reporting to AUSTRAC
  • Module 6: AML/CTF for Managers

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For more information on other GRC Solutions' AML/CTF for finance sector – Australia Resources:

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  • Anti-Money Laundering– covering the responsibilities of financial services and other businesses in general

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