Anti-Money Laundering and Counter-Terrorism Financing

Home Forums Anti-Money Laundering and Counter-Terrorism Financing how identify regulatory changes that affect the aml/ctf program?

This topic contains 5 replies, has 2 voices, and was last updated by  Andrew Ham 2 years, 3 months ago.

Viewing 6 posts - 1 through 6 (of 6 total)
  • Author
    Posts
  • #4799 Reply

    linda

    how identify regulatory changes that affect the aml/ctf program?

    #4802 Reply

    Andrew Ham
    Member

    Hi Linda,

    Thank you your question.  It is understandably difficult to keep up with all the regulatory changes that will affect your AML/CTF program.  In addition to changes in the law, and the rules, AUSTRAC regularly releases guidance and legal interpretations that can affect your program.  You also need to remember to keep your risk assessments up to date.

    We offer a tailored monthly regulatory update service that you can use to keep up to date with the law, the rules and feedback from AUSTRAC.  This is an interactive service that tells you when there is a change and where relevant will include a compliance tip that you need to consider updating your program.

     

    Please feel free to contact our Financial Services Team if you require any further information or more detailed advice.

     

    Author:  Andrew Ham (Senior Lawyer)

    Co-contributor: Joanne Lee (Law Clerk)

    Our new Sydney office on Martin Place just launched today!! We are very excited about this opportunity to service our Sydney clients.

    #4888 Reply

    linda

    Hi Andrew,

    Thank you for your help.

    Regard

    #4889 Reply

    linda

    how we are alerted to changes in specifications for products and services offered by the company

    #4890 Reply

    linda

    and how to assess the effectiveness of each of the controls

    #4893 Reply

    Andrew Ham
    Member

    Hi Linda,

    We have responded to your last two questions in turn:

    1. Details of our products and services are available on our website.   We regularly update our website to address any changes relating to these products and services.
    2. Designated service providers have an obligation to include procedures in their AML/CTF programs to identify their AML/CTF risks, the significance of those risks and the effectiveness of the controls in place to manage them.

    Please feel free to contact us to see if we can provide you with assistance in assessing the controls in your program.

     

    Author: Andrew Ham

Viewing 6 posts - 1 through 6 (of 6 total)

Reply

Reply To: how identify regulatory changes that affect the aml/ctf program?

Your information:


<a href="" title="" rel="" target=""> <blockquote cite=""> <code> <pre> <em> <strong> <del datetime=""> <ul> <ol start=""> <li> <img src="" border="" alt="" height="" width="">

  • Free answers to common Financial Services Regulation (FSR), Consumer Credit and AML/CTF issues.

    Click here to join our LinkedIn group for responsible managers and compliance professionals.
    joinUsOnLinkedIn
  • trex

    Tailored Regulatory Exchange

    what is this and does it bite ?

    Find OutLogin

  • Legal Advice

    Review your AFSL or ACL disclosure documents, conduct a licensee audit and more…

    Get Legal Advice

  • Compliance support

    Responsible Manager Training, AFSL, and ACL applications and variations and more…

    Compliance support