AML Terms

Understand the concept of permanent establishment under the AML/CTF Act and how it determines geographical links for regulatory compliance and reporting.

Learn what a partnership is, see real-world examples, key concepts and governance basics for shared business responsibility and decision-making.

Learn what a money mule is, how criminals recruit them, common red flags, risks of legal trouble & practical tips to avoid becoming a money mule.

Define money laundering, understand how criminals disguise funds through property and trusts, and map your business risk to implement effective AML controls.

Define KYC information, set verification rules, and assess customer ML/TF risk using identity details, source of funds, and independent data sources.

Essential overview of key personnel under AML/CTF rules – who they are, why they matter, and governance expectations for compliance.

A practical guide to International Organisation PEP (IO PEP) compliance. Learn when to apply EDD, document source of wealth, and ensure senior sign-off.

Understand the meaning of International Funds Transfer Instruction (IFTI) under AUSTRAC laws, including reporting obligations, types & the future shift to IVTS.

What is a governing body? Learn the definition, executive roles, and risk oversight responsibilities for effective business governance and compliance.

Essential guide to Foreign PEP (politically exposed person). Learn best practices for senior approval, source of funds verification, & high-risk customer management.