Here we go again – AUSTRAC updates KYC requirements
Just when you thought you had got on top of your Customer Due Diligence (CDD) requirements, AUSTRAC has revised Chapter 4 of the AML/CTF Rules in a few small but significant ways. (a) Collection of information about a customer Previously, when undertaking customer identification and verification activities, a reporting entity was required to obtain the requisite information … More Here we go again – AUSTRAC updates KYC requirements