Will Your AML/CTF Compliance Officer Meet AUSTRAC’s High Standards? by Jenny Willcocks
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the role of the AML/CTF compliance officer in acting as a liaison officer between the reporting entity and AUSTRAC.
These Guidance Notes are still in draft form and therefore subject to change. However, as the requirement to appoint an AML/CTF compliance officer came into operation on 12 December 2007 they provide a timely indication of AUSTRAC’s approach to this aspect of compliance.
Endnotes 1
Paragraph 8.3 AUSTRAC Guidance Note – Risk Management and AML/CTF programs Paragraph 3.1 draft Guidance Note 3 Paragraph 3.3 draft Guidance Note 4 Paragraph 4.1 of the draft Guidance Note 5 Paragraph 5.2 of the draft Guidance Note. 2
Turkslegal can provide assistance with all aspects of compliance with the AML/CTF Legislation including review of Programs, developing employee due diligence policies and risk awareness training programs. All enquiries should be directed to Jenny Willcocks, Partner on 03 8600 5001 or at jenny.willcocks@turkslegal.com.au.
For more information, please contact: Jenny Willcocks Partner T: 03 8600 5001 jenny.willcocks@turkslegal.com.au
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