AML Terms

Table of Contents Quick Overview of Counterparty Meaning: A counterparty is the other person or organisation on the opposite side of a transaction or business

Table of Contents Structure of a Corporate Group Meaning: A group of two or more bodies corporate that are related under section 50 of the

Table of Contents Certified Copy – Quick Overview Meaning: A document certified as a true copy of an original by someone authorised to do so.

Table of Contents Summary Box Meaning: Gold, silver, platinum or palladium authenticated to a specified fineness and used for trading, commonly as bars or coins.

Table of Contents Quick Overview of the Beneficiary Institution Meaning: A financial institution that receives an electronic funds transfer instruction and makes the transferred funds

Table of Contents At a Glance: Bearer Negotiable Instruments Plain English meaning: A non cash instrument, like certain cheques or money orders, that can be

Table of Contents Quick Overview of ADIs in Financial Systems Plain English meaning: A financial institution licensed by APRA to carry on banking business, including

Table of Contents Quick Overview of Australian Government Bodies Plain English meaning: Any government, agency, or authority of the Commonwealth, or an Australian state or

Table of Contents Beneficial Owner: Key Highlights at a Glance What it is: The real person who ultimately owns or controls a customer that is

Table of Contents Quick Overview of the AML and CTF Program What it is: Your documented framework for how you meet AML CTF obligations. Why