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Anti Money Laundering and Counter-Terrorism Financing

AML/CTF independent review

AML/CTF Independent Review: Critical Steps Clubs Must Take After Findings

Amber Wright
Anti Money Laundering and Counter Terrorism Financing
For registered Clubs, an AML/CTF independent review should never be treated as simply another compliance exercise to complete and file away. The real value comes from what the Club does with the findings. An AML/CTF independent review provides the Board,…
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Certificate IV in Security Management

Suspicious Matter Reports (SMRs): Why They Matter and Why AUSTRAC Requires Them

Michael Huggett
Anti Money Laundering and Counter Terrorism Financing, Articles
It’s Not About Proving a Crime  One of the biggest misunderstandings about Suspicious Matter Reports (SMRs) is that businesses believe they need proof that a customer has committed a crime before making a report.  That isn’t the purpose of an SMR.  The Anti-Money…
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Independent AML/CTF Review

Why an Essential Independent AML/CTF Review Matters for Every Reporting Entity

Michael Huggett
Anti Money Laundering and Counter Terrorism Financing, Articles
An Independent AML/CTF Review is one of the most important safeguards within an Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Program. Every reporting entity should regularly conduct an Independent AML/CTF Review to ensure its AML/CTF Program is effective, complies with Australian…
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AML/CTF Compliance Officer

AML/CTF Compliance Officer: The Essential Leadership Role

Michael Huggett
Anti Money Laundering and Counter Terrorism Financing, Articles
With Australia’s Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) reforms expanding to new industries, the role of the AML/CTF Compliance Officer has never been more important. Whether you are a registered club, hotel, real estate agency, accounting firm, conveyancing practice or…
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Transaction Monitoring for Registered Clubs

Best Transaction Monitoring for Registered Clubs: The Ultimate AML/CTF Guide

Michael Huggett
Anti Money Laundering and Counter Terrorism Financing, Articles
Transaction monitoring for registered clubs is one of the most important AML/CTF controls for identifying unusual customer activity and managing financial-crime risk. Customer due diligence (CDD) is essential. Knowing who a customer is, however, is only one part of the…
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AML/CTF Risk Assessment

AML/CTF Risk Assessment: The Essential Guide for Registered Clubs

Michael Huggett
Anti Money Laundering and Counter Terrorism Financing, Articles
The Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) regime is built on one fundamental principle: organisations must understand their own risks before they can effectively manage them. For registered clubs that operate gaming machines, conducting an AML/CTF Risk Assessment is not…
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AML/CTF Governance

Why Strong AML/CTF Governance Starts with Board Approval

Michael Huggett
Anti Money Laundering and Counter Terrorism Financing, Articles
As Australia’s Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) reforms place greater emphasis on governance and accountability, boards and senior executives can no longer treat AML/CTF compliance as solely an operational responsibility. Effective AML/CTF governance begins in the boardroom. It requires…
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AML/CTF Compliance Leadership

AML/CTF Compliance Leadership: The Critical CEO Mistake Behind Compliance Failure

Michael Huggett
Anti Money Laundering and Counter Terrorism Financing, Articles
AML/CTF compliance leadership is often the deciding factor in whether an Anti-Money Laundering and Counter-Terrorism Financing program succeeds or fails. Many organisations invest significant time and money implementing AML/CTF systems, training programs, online reporting tools, and compliance software. Yet despite…
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Tipping Off AML/CTF

Tipping Off AML/CTF: Critical Rules Every Australian Business Must Know

Michael Huggett
Anti Money Laundering and Counter Terrorism Financing, Articles
Tipping Off AML/CTF is a serious compliance risk for Australian businesses regulated under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act). Organisations that identify suspicious activity must ensure employees do not disclose information that could alert a customer…
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AML/CTF Employee Screening

AML/CTF Employee Screening: 7 Reasons Reference Checks and Staff Re-Screening Matter for Australian Clubs

Michael Huggett
Anti Money Laundering and Counter Terrorism Financing, Articles
AML/CTF employee screening is a critical requirement for Australian clubs, especially those operating gaming machines or other regulated services. In practice, AML/CTF employee screening forms a key part of an organisation’s broader compliance and risk management framework under the Anti-Money…
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