Business type
Legal
A legal case is a matter for one client and one designated service (table 6). A conveyancing matter in a legal practice follows the conveyancing rules instead.
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.
42 rules
What raises risk
Each risk factor: what rates it, and what is asked for because of it.
32 risk factors 44 rules
After a higher rating
The extra steps once someone is rated medium or high risk.
3 rules
Good to know
- A case is a matter 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.
- A conveyancing matter in a legal practice follows the Conveyancing rules, not these.
Designated services
A case is opened for one of these.
- Creating or restructuring a company or legal arrangement (item 6)
- 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, trustee or corporate attorney (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. 12 rules
- Sanctions, PEP and adverse media — Watchlist screening and the country check. 4 rules
- Risk scoring and tiering — The overall rating, the factors behind it, and the officer’s decisions. 8 rules
- On the case — Checks on payments and the property, and the case-level banner. 4 rules
When eAML looks at its rules
| When a case is opened | 2 rules |
|---|---|
| When someone is added to the case | 27 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 | 27 rules |
| When a check result comes back | 22 rules |
| When a payment is recorded | 3 rules |
| When someone is rated medium or high risk | 3 rules |
| When a suspicious matter report is made | 1 rule |