From December 2008, additional requirements came into effect for a range of designated service providers to comply with the Anti-Money Laundering and Counter-Terrorism Financing Act. This course provides a jargon-free explanation of the legislation and the new obligations surrounding Anti-money laundering/counter terrorism financing (AML/CTF).

If you are involved in a financial services business, or if you provide services to financial services organisations, AML/CTF training is an essential part of your staff training obligations. This course looks at the reasons AML/CTF laws were introduced, why they are important, and what staff need to do to comply with their legal obligations.

What the course covers

The Essentials of AML/CTF course covers the following major subject areas:

• Introduction to Anti-Money Laundering/Counter-Terrorism Financing laws
• AML/CTF laws in an international context
• How AML/CTF is monitored and regulated
• Which entities are covered by AML/CTF laws
• What AUSTRAC is and the role it performs
• The risk-based approach to AML/CTF
• Overview of the obligations on designated services
• Ongoing customer due diligence
• Reporting obligations
• Requirements for record keeping
• Maintaining an AML/CTF program
• What happens if organisations fail to comply.

Course structure and delivery

This course is delivered as an online self-paced training module. The module consists of 34 screens of content followed by an assessment of randomised questions. Participants must answer all questions correctly in order to complete the course, and may review content and re-attempt the assessment until it has been passed. Most people will complete the course in 30 to 40 minutes. After completion, a personalised certificate can be printed.

Advanced course features

Our courses are designed with accessibility and convenience in mind. All courses feature:

• 24 x 7 online availability from anywhere
• Learners can complete course content over multiple sessions
• Content can be viewed on computers, tablet devices and even mobile phones
• Interactive exercises and variety of presentation styles increase engagement
• Courses include optional audio narration for content and scenarios
• Up-to-date real-world and hypothetical examples to illustrate concepts
• Accessibility options such as dark mode and reader view for the visually impaired.

Additional unique tools and features

High quality, comprehensive and engaging content is not all there is to our unique course offerings. Our courses are supported by the flexible and powerful Online Compliance Learning Management System (OCLMS) platform. The platform also includes many unique administration features and customisation options that enable you to present a consistent and appealing experience.

Download the Essentials of AML/CTF Training brochure