Business type
Accounting
An accounting case is an engagement for one client and one designated service (the AML/CTF Act’s table 6 services, such as setting up a company or holding client money). The questions and documents depend on the service.
For eAML customers. The full detail of every rule, with the rule numbers, the questions each form asks, and recordings and screenshots of the screens, is on the rules site: rule.eaml.com.au.
Checks, questions and documents
What eAML adds to each person’s card, stage by stage, and when.
46 rules
What raises risk
Each risk factor: what rates it, and what is asked for because of it.
33 risk factors 48 rules
After a higher rating
The extra steps once someone is rated medium or high risk.
4 rules
Good to know
- A case is an engagement for one client and one designated service from the AML/CTF Act’s table 6. The service is chosen when the case is opened.
- What is asked depends on the service. For selling, buying or transferring a business (item 2), it also depends on whether you act for the buyer or the seller.
- The client’s trading countries count: the country check includes the countries the client says it trades with.
Designated services
A case is opened for one of these.
- Creating or restructuring a company or legal arrangement (item 6)
- Real estate transactions (item 1)
- Selling, buying or transferring a business entity (item 2)
- Holding or controlling a client's money or assets (item 3)
- Equity or debt financing (item 4)
- Selling or transferring a shelf company (item 5)
- Acting as a nominee director, secretary, partner or trustee (item 7)
- Acting as a nominee shareholder (item 8)
- Providing a registered office address (item 9)
Where a case goes
Each person on a case has a card with these stages, in this order. The names are the ones on the screen.
- Customer identification — Who they are: the identity check, the ID document, proof of address. 9 rules
- Beneficial ownership — Who owns or controls a company or trust, and how complicated the structure is. 3 rules
- Source of funds and wealth — Lenders, bank statements, source of funds and source of wealth evidence. 2 rules
- Customer due diligence — The background questions every customer is asked. 13 rules
- Sanctions, PEP and adverse media — Watchlist screening and the country check. 5 rules
- Risk scoring and tiering — The overall rating, the factors behind it, and the officer’s decisions. 9 rules
- On the case — Checks on payments and the property, and the case-level banner. 5 rules
When eAML looks at its rules
| When a case is opened | 2 rules |
|---|---|
| When someone is added to the case | 28 rules |
| When a person’s details change | 1 rule |
| When owners or officers are recorded or changed | 2 rules |
| When a bank account is added | 1 rule |
| When a question is answered | 32 rules |
| When a check result comes back | 23 rules |
| When a payment is recorded | 4 rules |
| When someone is rated medium or high risk | 4 rules |
| When a suspicious matter report is made | 1 rule |