New draft AML/CTF Rules

Austrac has released 2 new sets of draft rules for further consultation:

Draft ongoing customer due diligence rules

The previous draft has been revised taking into account comments received. A public consultation period for this revised draft is currently open from 24 August 2007 to 14 September 2007.

Draft Anti-Money Laundering and Counter-Terrorism Financing Rules for reportable details relating to threshold transaction reports

These draft AML/CTF Rules relate to information required to be included in a threshold transaction report under subsection 43(3) of the AML/CTF Act. A public consultation period is currently open from 24 August 2007 to 14 September 2007.