AUSTRAC’s starter kits have given a regulatory 'stamp of approval' to open-source Customer Due Diligence (CDD), including adverse media and PEP screening. This is a boon for small gatekeepers who are being brought into the AML/CTF regime under Tranche 2, including lawyers, accountants, conveyancers and real
AUSTRAC has released its groundbreaking AML/CTF program starter kits, designed to support gatekeeper professions as they prepare for Tranche 2 of Australia’s financial crime compliance regime. This is the first time any regulator worldwide has provided such detailed, practical guidance to designated non-financial businesses and professions (DNFBPs), including
One of the questions we often get from AML Shield users is: “What should my transaction monitoring system look like? Does it need to be perpetually scanning for suspicious transactions, like a bank?” This is one of the most confusing areas for smaller businesses — and understandably so. When most people