The Anti-Money Laundering and Counter-Terrorism Financing Rules Instrument 2007 (No. 1) have been updated.
The latest compilation of the AML/CTF Rules comprises 14 chapters.
They relate to a number of matters including:
- ‘designated business group’ definition
- correspondent banking
- customer identification
- AML/CTF programs
- gambling services
- AML/CTF compliance reports (reporting and lodgement periods)
- electronic funds transfer instructions (involving use of a credit card)
- ‘approved third-party bill payment system’ definition
- certain monetary thresholds relating to specified items in tables 1 and 3.
Links to draft rules still being consulted on can be found here.