AUSTRAC has now released its AML/CTF Program Starter Kit for real estate businesses, designed to help agencies begin preparing for the upcoming anti-money laundering and counter-terrorism financing obligations that will apply to the property sector.
The starter kit is intended to give agencies a practical starting point for developing their AML/CTF program, understanding their risk exposure, and putting basic compliance procedures in place. Agencies can enrol with AUSTRAC from 31 March, so now is a good time to start becoming familiar with the available resources.
AUSTRAC is also running a series of industry webinars, which provide helpful guidance on how the new regime will apply to real estate businesses. These sessions are a great opportunity to hear directly from the regulator and understand what will be expected once the obligations commence.
https://www.austrac.gov.au/amlctf-reform/education-about-reforms
At Unique, we will also be running practical training sessions later this year to help agencies understand how to apply the requirements in day-to-day agency practice. Keep an eye on our upcoming courses and newsletters for further details.