Opinion by Nathan Lynch, AML expert On the first day of July, around 80,000 new businesses are expected to wander into the AML tent. Lawyers in suburban Sydney. Accountants running two-partner shops out of office parks in Tuggerah. Conveyancers. Real estate agents from the Gold Coast to Gundagai. Most,
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