Reporting Entities under the Money Laundering and Counter- Terrorism Financing Act (AML/CTF)are not obliged to:

Question

Quizplus · Accepted Answer

The 100 points identification check is a specific method used primarily in Australia for customer identification and verification, but it is not a mandatory requirement under the Money Laundering and Counter-Terrorism Financing Act (AML/CTF) for reporting entities. The AML/CTF Act does require entities to verify the identities of their customers, retain records, and monitor transactions, but it does not prescribe the 100 points system specifically.

Reporting Entities Under the Money Laundering and Counter- Terrorism Financing