Anti Money Laundering / Counter Terrorism Financing Act 3
The ‘AML3 Refresher’ module is designed to give brokers up-to-date knowledge of legislation affecting their obligations under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006. The AML3 Refresher includes new customer due diligence requirements introduced on 1 June 2014, which are required to be implemented by 31 December 2015 by Reporting Entities.
The revised study guide includes information and examples of the new customer due diligence requirements that may be outsourced to brokers by lenders. The three areas of significant change in the AML3 standard pertain to:
- beneficial ownership ;
- Politically Exposed Persons (PEP’s); and
- settlors of trusts.
Please note: An AML Refresher is a compulsory component of continued MFAA membership and is required on membership renewal if it has not been completed within the previous 2 years. The course fee for MFAA members is $16.50 inclusive of GST.
Irrespective of the completion date of your last AML Refresher or completion of the ICP, the MFAA recommends that all loan writer members complete the AML3 Refresher training as soon as practicable.
Please click here for the AML3 Refresher FAQ's.
Cancellation Policy: Please view the MFAA cancellation policy.
Enquiries: Please contact MFAA Professional Development firstname.lastname@example.org or 1300 554 817.