Amendments to AML/CTF Customer I.D. Rules | imac legal & compliance


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Amendments to AML/CTF customer i.d. rules touted

June 15, 2015 imaclegal 0 Comment

Amendments to AML/CTF customer i.d. rules touted.  AUSTRAC has released draft AML/CTF rules for comment. In a nutshell, the proposed amendments streamline the electronic safe harbour procedures for customers, broaden the collection of identification information from sources other than the customer, and extend current customer exemptions to include beneficial owners and politically exposed persons. A public consultation period is open until 8 July 2015 if you wish to provide input.

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