Notify AUSTRAC of AML/CTF compliance officer changes

What changes

Existing entities had to notify AUSTRAC of changes to their AML/CTF compliance officer.

What this means for your business

AML governance: a named, accountable compliance officer is the anchor of the program. Make sure their authority, reporting line to senior management and escalation responsibilities are clear and match what AUSTRAC has been told.

Who it applies to

Banks, Existing reporting entities

Official source

https://www.austrac.gov.au/what-expect-changes-amlctf-rules