Anti-Money Laundering Course
An anti money laundering course bought off the shelf is often written for banking, and most Australian reporting entities are not banks.
The obligations themselves are consistent. Know your customer, identify and verify, monitor for unusual activity, report suspicious matters, and keep records. What differs completely is what those look like in practice.
In real estate, the risk arrives as an unusual funding source or a buyer quietly acting for someone else. In professional services it arrives as a client structure with no commercial logic behind it. In gaming and remittance it looks different again.
Staff apply what they recognise. A course full of banking examples teaches a real estate agent or an accountant very little about the transaction actually in front of them, and the obligation is theirs regardless.
Check the examples before you buy. AUSTRAC publishes guidance for reporting entities. This is general information rather than legal advice.
See Sentrient’s AML/CTF course and AML/CTF training for real estate.
3 Biggest Impacts of Money Laundering
Introducing illegally obtained funds into the stream of legitimate commerce and finance allows criminals to profit from their illegal activity, undermines the financial system, and erodes public trust. 1. Supports criminal activity When criminals profit from illegal activities, they can invest more money into the black-market economy and enable more crimes to be committed. As […]
The 6 Ways That Money Is Laundered
Criminals use diverse methods to launder money which is the proceeds of crimes such as drug trafficking, terrorist activities, and tax evasion. As with other criminal activity, these methods are used to sidestep regulatory and law enforcement measures and to exploit current and emerging channels. 1. Banking system The major channel for money laundering is […]
The 6 Ways That Terrorism Is Financed
How is terrorism financed? A number of channels are likely to pose an increased risk of being misused for terrorism financing. One significant difference between terrorism financing and other crime types is that most terrorism financing in Australia originates from legitimate sources and activities. 1. Banking and remittance Banking and remittance use bank, interbank and […]
New Compliance Course Released – Anti Money Laundering and Counter Terrorism Financing Training
Sentrient is proud to release the new online anti-money laundering (AML) and counter terrorism financing (CTF) course as its latest online course that forms part of a fast-growing and comprehensive suite of online workplace compliance courses for organisations with employees, contractors and volunteers who are based in Australia, New Zealand, Singapore, USA, Canada, UK, and […]
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