Anti-Money Laundering for Compliance Officers in Financial Services Course (Australia)

A guide to the appointment and responsibilities of AML/CTF Compliance Officers

To reduce the risk of money laundering and the financing of terrorism, reporting entities have obligations under the Anti-Money Laundering and Counter Terrorism Financing Act 2006. Significant changes were made to the Act in 2024, coming into effect in 2026. Crucially, the amended Act requires all reporting entities to appoint a designated AML/CTF Compliance Officer.

This course introduces the organisational function of an AML/CTF Compliance officer, describes the criteria and process for the appointment of officers, and offers a detailed guide to the
fulfilment of Compliance Officers’ responsibilities.

Amongst other topics, we cover the law regarding appointments, time frames, selection criteria, AML/ CTF Programs, replacing officers, record-keeping, compliance culture, interactions with AUSTRAC and the submission of annual compliance reports.

Some sources estimate that over $1.5 trillion is laundered worldwide every year. Of that amount it is estimated that $200 billion is laundered in the Asia-Pacific region alone.