AML/CTF Program

What is an AML/CTF program?

An AML/CTF program is the written framework a reporting entity keeps to manage money laundering and terrorism financing risk across the services it provides. It typically sets out how the business assesses its risk, identifies and verifies customers, monitors transactions, screens against sanctions, and reports to the regulator, plus who is accountable and how staff are trained. For an Australian business, it is the document an AUSTRAC examiner would ask to see, and the standard against which your actual practice is judged.

Why it matters for Australian finance teams

Under the AML/CTF Act, reporting entities must have and follow a compliant program, and AUSTRAC can act where one is missing or not applied in practice. As reforms broaden which businesses are captured, more finance teams find their customer identification and record-keeping falling within scope. A program is only as strong as the verification behind it: if you cannot reliably confirm who a customer or payee is, the rest of the framework rests on shaky ground.

How ezyshield helps

ezyshield supports the customer-identification, re-verification, and record-keeping elements a program depends on by confirming the person, the business via ABN and ASIC records, and bank account ownership before money moves. When key details change, any change triggers re-verification, and every check is stored in an append-only audit trail, logged and never edited or deleted, ready to evidence your controls. ezyshield is not itself an AML/CTF program or a substitute for one; it is a verification tool that plugs into the identity and record-keeping parts of yours. See how it works and our guide to AML/CTF compliance in Australia.