acronym AML-CFT (sometimes AML/CFT or AMLCFT). In addition arrangements intended to ensure that banks and other relevant firms duly reportsuspicious transactions
purchases of negotiable instruments, file reports if the daily aggregate exceeds $10,000, and reportsuspiciousactivity that may signify money laundering, tax
institutions and other regulated entities to prevent or report money laundering activities. AML software can facilitate faster and more accurate compliance
Entities which are required to report transactions to AUSTRAC are called "reporting entities", which are specified in the AML/CTF Act. These entities deal
customer. The procedures fit within the broader scope of anti-money laundering (AML) and counter terrorism financing (CTF) regulations. KYC processes are also