AUSTRAC has released draft AML/CTF Rules relating to the renewal of registration on the Remittance Sector Register.

New Chapter 70 sets out procedures relating to the renewal of registration for 3 year periods.

Amendments have also been made to Part 8.9 and Part 9.9 (relating to ‘Reporting Obligations’) requiring reporting entities to specify in their AML/CTF programs the reporting obligations they have in regard to the RSR and the Reporting Entities Roll.