What you are required to do
One page per regulation: what the law requires, who it binds, and which part of the work satisfies each obligation. Product-neutral, and useful whether or not you ever use StackGo.
Every regulation here is filed three ways — the jurisdiction it applies in, who it binds, and the kind of obligation it creates. A regulated business rarely faces one of these at a time, and the three kinds below pull against each other: the anti-money-laundering rules tell you to keep a record for years, and the privacy rules govern what that record may contain and who may see it.
Know who your client is, check them against sanctions, PEP and adverse-media sources, rate the risk, and keep the record. These are the obligations that make a firm a reporting entity.
- Read the requirements →Australia
AML/CTF Act, Tranche 2 reforms
Applies to Accounting and advisory · Legal · Real estate · Conveyancing · Trust and company service providers · Precious metals and stones
- United Kingdom Coming
Money Laundering Regulations 2017
Applies to Accounting and advisory · Legal · Estate agency · Trust and company service providers
Rules prescribing how a person’s identity must be established for a particular transaction, separately from any anti-money-laundering duty.
- Australia Coming
Verification of Identity
Applies to Conveyancing · Legal · Mortgage lending
Our guide in the meantime: Verification of identity (VOI) requirements in Australia
What you may collect, where it may be held, how long you may keep it, and who may see it. These pull against the AML retention duties, and reconciling the two is the part firms find hardest.
- Australia Coming
Privacy Act 1988 and the Australian Privacy Principles
Applies to Any business handling personal information that meets the turnover threshold or operates in a prescribed sector
Our guide in the meantime: The 13 Australian Privacy Principles explained
- United Kingdom Coming
UK GDPR and the Data Protection Act 2018
Applies to Any business processing the personal data of people in the UK
- European Union Coming
General Data Protection Regulation
Applies to Any business processing the personal data of people in the EU, wherever that business itself is established
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