CTHIn ForceAct
Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2024
26PAML/CTF program approvals
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26P AML/CTF program approvals
(1) A reporting entity’s ML/TF risk assessment and AML/CTF policies, including any updates to either, must be approved by a senior manager of the reporting entity.
(2) Any updates to a reporting entity’s ML/TF risk assessment must be notified, in writing, to the governing body of the reporting entity as soon as practicable after the update is made.
(3) A reporting entity must comply with a requirement under this section.