Anti-Money Laundering and Counter-Terrorism Financing

Course Overview

Money laundering and terrorism financing present serious risks for Australia's financial system and the safety and wellbeing of Australians. This course has been developed to educate employees about the Australian Anti-Money Laundering and Counter-Terrorism Financing (AML / CTF) Regime.

The course focuses on the learner’s obligations and responsibilities under the Regime. Specifically, it will provide the learner with crucial information on how to comply in their day-to-day contact with customers and how to detect behaviour which may amount to money laundering and terrorism financing.

Key Content

• Definition of money laundering and terrorism financing;
• Components of the AML / CTF Regime and who it applies to;
• Obligations for organisations and individuals under the AML / CTF Regime;
• Consequences of non-compliance;
• The AML / CTF Program;
• Customer identification and verification;
• What to do if identity fraud is suspected;
• Ongoing Customer Due Diligence (OCDD);
• Record keeping requirements;
• Suspicious behaviour to look out for and the procedure for reporting suspicious matters;
• Reporting threshold transactions;
• Reporting international funds transfer instructions.

Learning Outcomes

At the completion of this course, learners should be able to:

• Define money laundering and terrorism financing;
• Discuss their responsibilities and those of the organisation under the AML / CTF Regime;
• Identify the signs of potential money laundering and terrorism financing;
• Report potential money laundering and terrorism financing, if a suspicion arises;
• Explain the consequences in instances of non-compliance with the AML / CTF Regime.