Draft AML/CTF Rules available for consultation

AUSTRAC has released draft AML/CTF Rules relating to customers which are custodians for public consultation.

Draft Rules relating to custodians

These amendments exempt reporting entities from certain identification requirements in Chapter 4 and Chapter 15 of the AML/CTF Rules for corporate customers who are ‘custodians’.

A public consultation period is open from 3 April to 1 May 2017.

The draft Rules are available on the AUSTRAC website.

Source: The Commonwealth of Australia