International Law

AML/CTF Rules updated

Austrac has announced that the official compilation of the Anti-Money Laundering and Counter-Terrorism Financing Rules here is not complete.

It does not include recent changes made to Chapters 17, 18 and 19 of the AML/CTF Rules. These Rules specify certain details which must be reported to AUSTRAC in respect of international funds transfer instructions, suspicious matters and threshold transactions.

Because these changes are to Chapters that do not commence until 12 December 2008 (and in one case until 1 January 2011), it is not possible for the Federal Register of Legislative Instruments to publish a consolidated version of these Chapters until that date. To assist industry to understand the changes made to these important Chapters, AUSTRAC has prepared an informal compilation here.

Full post as published by Australian Regulatory Compliance Review on September 22, 2008 (boomark / email).