AML/CTF vocabulary applies to Australian gaming venues as reporting entities under the AML/CTF Act 2006 (Cth). After the AML/CTF Amendment Act 2024 commenced on 31 March 2026, the program structure (s.26B), risk assessment (ss.26C–26E), AML/CTF policies (s.26F), AMLCO designation (ss.26J–26M), and independent evaluation cadence are all set by Commonwealth statute plus the AML/CTF Rules 2025. These terms recur across the AUSTRAC reporting-entity regime — they are the working language of the AMLCO, the senior manager who approves the program, and the staff trained against the policies.
25 terms in this section. Part of the 120-term Venue Axis compliance glossary.
The individual a reporting entity designates as its AML/CTF Compliance Officer under s.26J of the AML/CTF Act 2006. Must be employed at management level, hold sufficient authority …
The Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Commonwealth). Primary statute governing reporting-entity obligations including the AML/CTF program (Part 1A), c…
The two-component document required by s.26B of the AML/CTF Act 2006: an ML/TF risk assessment (ss.26C–26E) plus AML/CTF policies (s.26F). Must be documented (s.26N), approved by a…
The structured analysis of money-laundering, terrorism-financing and proliferation-financing risks a reporting entity faces. Required by ss.26C–26E of the AML/CTF Act 2006. Conside…
The operational rules — required by s.26F of the AML/CTF Act 2006 — that translate a venue's risk assessment into compliance procedures. Cover CDD, transaction monitoring, SMR/TTR …
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…
The heightened verification applied where a customer's ML/TF risk is high or specific triggers apply under s.32 of the AML/CTF Act 2006 — foreign PEPs, FATF high-risk-jurisdiction …
The reduced verification applied where the customer's ML/TF risk is low (AML/CTF Act 2006 s.31). The policies set out which low-risk scenarios qualify and what reduced steps are th…
Continuous monitoring of an established customer relationship under s.30 of the AML/CTF Act 2006. Updates the customer record when transaction patterns change, when profile attribu…
A report filed to AUSTRAC when a reporting entity forms a reasonable suspicion that a transaction or attempted transaction relates to money laundering, terrorism financing, tax eva…
A report filed to AUSTRAC for any cash transaction of AUD 10,000 or more, regardless of suspicion — a fixed-dollar trigger, not a discretionary one. A single transaction can produc…
Breaking a transaction into multiple sub-threshold pieces to avoid the AUD 10,000 TTR trigger. An offence under s.142 of the AML/CTF Act 2006. Common gaming-venue pattern: multiple…
Disclosing information about a filed (or impending) Suspicious Matter Report where the disclosure would or could prejudice an investigation, contrary to s.123 of the AML/CTF Act 20…
An activity listed in Table 3 of s.6 of the AML/CTF Act 2006 that brings the provider into the reporting-entity regime. For gaming venues, relevant items include gaming-machine ent…
AUSTRAC's web-based reporting portal where reporting entities submit SMRs, TTRs, IFTIs, and annual compliance reports. Access is keyed to the entity's registration and the designat…
The natural persons who ultimately own or control a corporate or trust customer. CDD under the AML/CTF Act 2006 requires identifying beneficial owners when the customer is an entit…
Documentation of where the money used in a specific transaction came from — salary, sale of an asset, business income, gift, etc. Captured during enhanced CDD where the venue forms…
Documentation of how the customer accumulated their total wealth — typically a longer view than source of funds. Required during enhanced CDD for higher-risk patrons (foreign PEPs,…
The post-31-March-2026 framework's term for a group of reporting entities that have chosen to apply the reporting-group rules (s.26F(5)–(6) and AML/CTF Rules 2025 Division 6 of Par…
An IFTI is a reportable instruction to transfer money or property across the Australian border, defined at s.45 of the AML/CTF Act 2006. Reporting entities that send or receive an …
The financing of weapons-of-mass-destruction proliferation. The 2024 Amendment Act extended s.26C of the AML/CTF Act 2006 to require PF risk to be considered alongside money-launde…
The shorthand for the two principal financial-crime typologies the AML/CTF Act 2006 was enacted to counter: money-laundering (concealing the illicit origin of proceeds of crime) an…
The underlying criminal offence that generates the proceeds being laundered. Tax evasion, drug trafficking, fraud, corruption, and proceeds-of-crime offences are common predicates …
The post-31-March-2026 expansion of the AML/CTF Act 2006 reporting-entity regime to include lawyers, accountants, conveyancers, real-estate professionals, and dealers in precious m…
The subordinate-legislation rules supplementing the AML/CTF Act 2006 (as amended by the 2024 Amendment Act). Part 5 carries the mandatory-content requirements for AML/CTF policies …