MLR3C8050 - Compliance visit tests: Introduction

Officer’s evaluation of how effective the AML/CTF policies, controls and procedures are will be determined by:

• the degree to which the AML/CTF controls within the business have improved
• risk assessment of customers, geographical are operated in, products or services, transactions and how services or goods are delivered
• policies procedures and risk sensitive controls to counter Money Laundering/and Terrorist Financing
• policies, controls and procedures to identify and report suspicious activity
• adoption of simplified procedures where appropriate

The business success or failure in meeting these fundamental objectives will be evaluated by undertaking a range of tests during a compliance visit.