•   A reporting entity must have and comply with an anti - money laundering and counter - terrorism financing program.

•   An anti - money laundering and counter - terrorism financing program is divided into Part A (general) and Part B (customer identification).

•   Part A of an anti - money laundering and counter - terrorism financing program is designed to identify, mitigate and manage the risk a reporting entity may reasonably face that the provision by the reporting entity of designated services at or through a permanent establishment of the entity in Australia might (whether inadvertently or otherwise) involve or facilitate:

  (a)   money laundering; or

  (b)   financing of terrorism.

•   Part B of an anti - money laundering and counter - terrorism financing program sets out the applicable customer identification procedures for customers of the reporting entity.