International Law

Austrac issues PLI 9 - Customer identification requirements under the AML/CTF Act

PLI 9 - Customer identification requirements under the AML/CTF Act deals with:

• The nature and content of risk-based ?applicable customer identification procedures? under Part 7 of the AML/CTF Act and the Anti-Money Laundering and Counter-Terrorism Financing Rules Instrument 2007 (No.1) (AML/CTF Rules 2007)
• When and in what circumstances ?applicable customer identification procedures? are to be carried out as set out in Part 2 of the AML/CTF Act
• Relevance of the ?100 point check? prescribed in the Financial Transaction Reports Regulations 1990 for identification procedures under the AML/CTF Act.

Full post as published by Australian Regulatory Compliance Review on March 10, 2009 (boomark / email).