The introduction of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 has resulted in an increasingly complex web of legislative provisions, rules, regulations, declarations, AUSTRAC policy statements and Guidance Notes. Minter Ellison has developed Integrated AML, an integrated publication to help clients understand the interaction of the legislative provisions with the additional regulatory materials.

Integrated AML brings together the provisions of Anti-Money Laundering and Counter-Terrorism Financing Act 2006, the AML/CTF Rules, regulations, explanatory material, guidance notes and references to AUSTRAC material.

First version released – 1 June 2007

Integrated AML is made up of three volumes.

Volume 1

The principal component of Integrated AML.

This volume extracts and integrates the relevant provisions of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 and the AML/CTF Rules. It also includes extracts from or links to AUSTRAC Guidance Notes and other legislation relevant to the operation of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006. General Definitions, relevant provisions from the Australian Crime Commission Act 2002, Charter of the United Nations Act 1945, Criminal Code Act 1995 and the Privacy Act 1988 along with a user guide and table of Acts and rules are located at the end of this volume.

Volume 2

This volume aims to match each of the provisions of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 with statements made about the provision in the various Explanatory Memoranda tabled in Parliament. Each provision is shown on the left hand side of the page and relevant statements in the Explanatory Memoranda are shown on the right hand side. Amendments to the Act as it progressed through Parliament (and subsequent amending Acts) are shown as marked changes with the relevant explanations shown in the same colour and coding.

Volume 3

This volume aims to match the Anti-Money Laundering and Counter-Terrorism Financing Rules with statements made about them in the various Explanatory Statements released by AUSTRAC. At the time of publication, Explanatory Statements were only available for the draft Rules published and Rules finalised since December 2007. Amendments to the Rules are also shown as marked changes with the relevant explanations shown in the same colour and coding.

Electronic links

The electronic version of Volume 1 contains links to Volumes 2 and 3, which are intended to aid Integrated AML users to quickly identify any explanatory material that may assist with interpreting various provisions and understanding the context of the explanation.

Sample

The Integrated FSR sample provides a model of how this publication works and demonstrates the benefits of this publication.

Contact us

To obtain a copy of our Integrated AML, please complete the order form or contact Candi Yeung on +61 2 9921 4628 or by email candi.yeung@minterellison.com. 

For further information about compliance with the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, please contact Richard Batten on +61 2 9921 4712 or by email richard.batten@minterellison.com.