Jacobson Aml Slideshare 071029

Anti-money laundering: legislative update David Jacobson October 2007 Disclaimer: this is general information only and not specific legal advice for your particular circumstances. If you need advice for your AML compliance please get professional advice.

WHAT YOU NEED TO DO AND WHEN
Plan
Find technology solutions
Implement control solutions

Compliance report due by 31 March 2008?

Find technology solutions

Understand the new rules
Sources
Risk assessment
Know your customers

Sources of regulation

Customer Due Diligence (CDD)

Customer identification

Training
Ongoing employee training
Suspicious matters
Tipping off

Transaction monitoring
monitor the transactions of each customer on a risk basis

How best to comply?
New elements can be added to your existing system

Building on your existing framework
Integrate with
General APRA obligations
ASIC licensing requirements
AS3806

Summing up
You must comply
Upgrade your existing program
Document your procedures

QUESTIONS?
David Jacobson
07 3878 5098
[email_address]
www.jacobsonconsulting.com.au

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Jacobson Aml Slideshare 071029

by davidjac on Oct 29, 2007

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Jacobson Aml Slideshare 071029 — Presentation Transcript