The set of procedures used to identify and verify customers, assess their ML/TF risk, and monitor the relationship over time. Required under Part 2 of the AML/CTF Act 2006 (initial CDD s.28, ongoing CDD s.30, simplified CDD s.31, enhanced CDD s.32). For gaming venues, CDD attaches to designated-service transactions per the policies, not every casual patron interaction.
This term sits in the AML/CTF section of the working glossary — vocabulary that recurs across the AUSTRAC reporting-entity regime, the AML/CTF Act 2006, and the AML/CTF Rules 2025.
The individual a reporting entity designates as its AML/CTF Compliance Officer under s.26J of the AML/CTF Act …
The Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Commonwealth). Primary statute governing r…
The two-component document required by s.26B of the AML/CTF Act 2006: an ML/TF risk assessment (ss.26C–26E) pl…
The structured analysis of money-laundering, terrorism-financing and proliferation-financing risks a reporting…
The operational rules — required by s.26F of the AML/CTF Act 2006 — that translate a venue's risk assessment i…
The heightened verification applied where a customer's ML/TF risk is high or specific triggers apply under s.3…