Anti-Money Laundering

Introduction

AML/CTF Risk Awareness Training for Staff

Under Part 8.2 of the AML/CTF Rules, reporting entities are required to provide adequate AML/CTF training to their staff designed to ensure that their staff are aware of:

  • Obligations under the AML/CTF legislation
  • Consequence of non-compliance and relevant ML/TF risks
  • Reporting processes under the AML/CTF Program

We provide professional AML/CTF training for your staff - online based, succinct and insightful module with a short exam. We can also provide customised training for individual staff requirements.

AML/CTF Reporting

We assist in the implementation of dynamic AML compliance reporting to AUSTRAC. We can provide assistance in the completion of the following reports sent to AUSTRAC:

  • Annual AML/CTF Compliance Report
  • Threshold Transactions Report
  • Suspicious Matters Report
Corporate Governance Credit Financial Markets Operational Risk Anti Money Laundering Business Continuity Management Disaster Recovery Planning Education & Training
The legal implications of a failure to execute appropriate anti-money laundering training should be more than enough to persuade professional entities to honor these obligations. Anti-money laundering training can help any financial institution or otherwise regulated body to remain in compliance with acceptable legal standards. Though it is, to a certain extent, the responsibility of any regulated agency to report suspicious activity without the intervention of a legislative body, anti-money laundering training ensures compliance through procedure. Federal laws and agencies affiliated with identifying money laundering will set a limit on the amount of money which triggers additional investigation, and anti-money laundering training can keep any necessary parties well-informed as to what may be irregular or concerning within an organization. Anti-money laundering training reduces the burden smaller entities may see from attempting to monitor anti-money laundering compliance wi thout adequate education, and helps to streamline reporting necessary for continued independent policing. Organizations that do not adhere to the anti-money laundering guidelines currently established in their region a re susceptible to a number of penalties and inquiries, many of which can be costly and crippling to investor relations. Protecting a company's legal vulnerabilities is a necessary aspect of successful corporate growth and ongoing profitability without fear of penalty or financial crime. Anti-money laundering training helps educate the owners of a business's books and numbers on the best way to maintain compliance within their current corporate framework. Identifying the best way to legislate money already on hand in addition to providing a baseline from which future anti-money laundering practices can be implemented helps to maintain tight regulation beyond the initial anti-money laundering training.