Anti-Money Laundering and Counter-Terrorism Financing Rules Instrument 2007 (No. 1)

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Attorney-General's Department

This item is authorised by the following title:

Anti-Money Laundering and Counter-Terrorism Financing Act 2006

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F2022C00716 (C69)

17 June 2022 - 15 September 2022

This instrument commences as follows: (a) on 12 June 2007 - Schedule 1; (b) on 12 December 2007 - Schedule 2.

Table of contents

1 Name of Instrument [see Note 1]
2 Rules
CHAPTER 1
- Part 1.1 Introduction
- Part 1.2 Key terms and concepts
CHAPTER 2
- Part 2.1 Definition of ‘designated business group’
CHAPTER 3 Correspondent Banking
- Part 3.1 Entry into a correspondent banking relationship
CHAPTER 4
- Part 4.1 Introduction
- Part 4.2 Applicable customer identification procedure with respect to individuals
- Part 4.3 Applicable customer identification procedure with respect to companies
- Part 4.4 Applicable customer identification procedure with respect to trustees
- Part 4.5 Applicable customer identification procedure with respect to partners
- Part 4.6 Applicable customer identification procedure with respect to associations
- Part 4.7 Applicable customer identification procedure with respect to registered co operatives
- Part 4.8 Applicable customer identification procedure with respect to government bodies
- Part 4.9 Verification from documentation
- Part 4.10 Verification from reliable and independent electronic data
- Part 4.11 Agents of customers
- Part 4.12 Collection and Verification of Beneficial Owner information
- Part 4.13 Collection and Verification of Politically Exposed Person information
- Part 4.14 Exemptions relating to the identification of beneficial owners and politically exposed persons
- Part 4.15 Procedure to follow where a customer cannot provide satisfactory evidence of identity
CHAPTER 5
- Part 5.1 Special anti money laundering and counter terrorism financing (AML/CTF) program
- Part 5.2 Applicable customer identification procedures in relation to special AML/CTF program
CHAPTER 6 Verification of identity
- Part 6.1 Re-verification of KYC information
- Part 6.2 Verification of identity of pre-commencement customers
- Part 6.3 Verification of identity of low-risk service customers
CHAPTER 7 Reliance on third parties
- Part 7.1 Reliance
- Part 7.2 Ongoing reliance under an agreement or arrangement
- Part 7.3 Case-by-case reliance
CHAPTER 8
- Part 8.1 Part A of a standard anti money laundering and counter terrorism financing (AML/CTF) program
- Part 8.2 AML/CTF risk awareness training program
- Part 8.3 Employee due diligence program
- Part 8.4 Oversight by boards and senior management
- Part 8.5 AML/CTF Compliance Officer
- Part 8.6 Independent review
- Part 8.7 Incorporation of feedback and guidance on ML/TF risks from AUSTRAC
- Part 8.8 Permanent establishments in a foreign country
- Part 8.9 Reporting obligations
CHAPTER 9
- Part 9.1 Part A of a joint anti money laundering and counter terrorism financing (AML/CTF) program
- Part 9.2 AML/CTF risk awareness training program
- Part 9.3 Employee due diligence program
- Part 9.4 Oversight by boards and senior management
- Part 9.5 AML/CTF Compliance Officer
- Part 9.6 Independent review
- Part 9.7 Incorporation of feedback and guidance on ML/TF risks from AUSTRAC
- Part 9.8 Permanent establishments in a foreign country
- Part 9.9 Reporting obligations
CHAPTER 10
- Part 10.1 Casinos
- Part 10.2 On course bookmakers and totalisator agency boards
- Part 10.3 Gaming machines
- Part 10.4 Accounts for online gambling services
CHAPTER 11 Compliance Report – reporting and lodgment periods
CHAPTER 12 Electronic funds transfer instructions
CHAPTER 13 Approved third party bill payment system
CHAPTER 14 Thresholds for certain designated services
CHAPTER 15 Ongoing customer due diligence
CHAPTER 16 Reportable details for international funds transfer instructions (items 1 and 2 in section 46)
CHAPTER 17 Reportable details for international funds transfer instructions under a designated remittance arrangement (items 3 and 4 in section 46)
CHAPTER 18 Reportable details for suspicious matters
CHAPTER 19 Reportable details for threshold transactions
CHAPTER 20 Record keeping obligations under section 114
CHAPTER 21 Issuing or selling a security or derivative
CHAPTER 22 Exemption of certain types of transactions relating to the over-the-counter derivatives market
CHAPTER 23 Anti-Money Laundering and Counter-Terrorism Financing Rules – persons specified as ‘non-financiers’
CHAPTER 24 Anti-Money Laundering and Counter-Terrorism Financing Rules for reports about cross-border movements of monetary instrument
CHAPTER 27 Anti-Money Laundering and Counter-Terrorism Financing Rules for registrable details relating to the Register of Providers of Designated Remittance Services and the Remittance Sector Register
CHAPTER 28 Applicable customer identification procedures in certain circumstances – assignment, conveyance, sale or transfer of businesses
CHAPTER 29 Record-keeping obligations under section 107
CHAPTER 30 Disclosure certificates
CHAPTER 31 Exemption of certain types of transactions relating to currency exchange transactions
CHAPTER 32 Exemption of certain types of transactions relating to safe deposit boxes or similar facilities
CHAPTER 33 Applicable customer identification procedure for purchases and sales of bullion valued at less than $5,000
CHAPTER 34 Affixing of notices about cross-border movement reporting obligations
CHAPTER 35 Exemption from applicable customer identification procedures for correspondent banking relationships
CHAPTER 36 Exemption of certain designated services within a corporate structure
CHAPTER 37 Exemption from threshold transaction reporting for certain designated services
CHAPTER 38 Exemption from applicable customer identification procedures for the sale of shares for charitable purposes
CHAPTER 39 Exemption from applicable customer identification procedures - premium funding loans for a general insurance policy
CHAPTER 40 Definition of ‘exempt legal practitioner service’
CHAPTER 41 Exemption from applicable customer identification procedures – cashing out of low value superannuation funds and for the Departing Australia Superannuation Payment
CHAPTER 42 Commodity warehousing of grain
CHAPTER 43 Friendly Society closed funds
CHAPTER 45 Debt Collection
CHAPTER 46 Special circumstances for the applicable customer identification procedure
CHAPTER 47 Risk-only life policy interests in a superannuation fund
CHAPTER 48 Exemption of salary packaging administration services from the AML/CTF Act
CHAPTER 49 International Uniform Give-Up Agreements
CHAPTER 50 Exemption from applicable customer identification procedure in certain circumstances
CHAPTER 51 AML/CTF Rules relating to certain definitions under the AML/CTF Act - Ordering and Beneficiary Institutions, Financial Institutions and Non-Financiers
CHAPTER 52 Persons who are licensed to operate no more than 15 gaming machines
CHAPTER 54 Reporting obligations of registered remittance affiliates
CHAPTER 55 Remittance Sector Register
CHAPTER 56 Information to be included in an application for registration as a remittance network provider, a remittance affiliate of the registered remittance network provider or an independent remittance dealer
CHAPTER 57 Matters to be considered by the AUSTRAC CEO in considering applications for registration
CHAPTER 58 Matters to be considered by the AUSTRAC CEO when deciding to cancel a registration
CHAPTER 59 Matters to be considered by the AUSTRAC CEO when deciding to suspend a registration
CHAPTER 60 Change in registration details regarding the person
CHAPTER 61 Reporting obligations of remittance affiliates
CHAPTER 62 Reporting Entities Roll
CHAPTER 63 Information to be provided or in relation to an application for enrolment as a reporting entity
CHAPTER 64 Changes in enrolment details in respect to a reporting entity
CHAPTER 65 Removal of entries from the Reporting Entities Roll
CHAPTER 66 Applicable customer identification procedures in certain circumstances – compulsory partial or total transfer of business made under the Financial Sector (Business Transfer and Group Restructure) Act 1999
CHAPTER 67 Warrants
CHAPTER 68 Anti-Money Laundering and Counter-Terrorism Financing Rules relating to records of identification procedures
CHAPTER 69 Casino licence holders – exemption from applying for registration on the Remittance Sector Register
CHAPTER 70 Renewal of registration
CHAPTER 71 Credit card reform - specifying persons under Items 1, 2 and 3 of Table 1 in subsection 6(2) of the AML/CTF Act
CHAPTER 72 Account-based money transfer systems
CHAPTER 73 Exemption for Registered Plan Management Providers
CHAPTER 74 Exemption for licensed trustee companies
CHAPTER 75 Law Enforcement Operations
CHAPTER 76 Digital Currency Exchange Register
CHAPTER 77 Exemption from the applicable customer identification procedure for the purposes of Schedule 13 to the Coronavirus Economic Response Package Omnibus Act 2020
CHAPTER 78 Wise Australia Pty Ltd
CHAPTER 79 Applicable customer identification procedure – special circumstances – account opening and deposit
CHAPTER 80 AML/CTF Rules relating to certain definitions under the AML/CTF Act – stored value card
CHAPTER 81 Financial institutions – Exemption from applying for registration on the Digital Currency Exchange Register
- Notes to the STYLEREF Title Anti-Money Laundering and Counter-Terrorism Financing Rules Instrument 2007 (No. 1)

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