CTHIn ForceLegislation
Anti-Money Laundering and Counter-Terrorism Financing Rules 2025
//
© 2026 Zoe. All rights reserved.
Zoe is a legal information platform. Always consult the Federal Register of Legislation for authoritative text.
Anti-Money Laundering and Counter-Terrorism Financing Rules 2025
Start here
Turn the raw legal text into a practical explanation grounded in Anti-Money Laundering and Counter-Terrorism Financing Rules 2025.
(1) For the purposes of paragraph 26F(7)(a) of the Act, this section specifies requirements in relation to the matter mentioned in paragraph 26F(3)(b) of the Act (carrying out customer due diligence in accordance with Part 2 of the Act). (2) The AML/CTF policies of the reporting entity must set out the circumstances in which the reporting entity will, for the purposes of undertaking initial customer due diligence in accordance with section 28 of the Act: (a) collect kinds of KYC information relating to a customer; or (b) both collect and verify kinds of KYC information relating to a customer; including but not limited to the circumstances in which the reporting entity will collect, or collect and verify, information on the customer’s source of wealth and source of funds. (3) The AML/CTF policies of the reporting entity must set out the circumstances in which the reporting entity will, as part of undertaking ongoing customer due diligence of customers in accordance with section 30 of the Act: (a) collect kinds of additional KYC information relating to a customer; or (b) both collect and verify kinds of additional KYC information relating to a customer; including but not limited to the circumstances in which the reporting entity will collect, or collect and verify, information on the customer’s source of wealth and source of funds.