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February 26, 2008

Austrac issues generic customer identification form

Austrac has issued a generic customer identification form (pdf) for reporting entities as an example of
what they may choose to use under ‘safe harbour’ to identify and verify
customers of designated services.

The procedure may only be used where the relationship with the individual is deemed by the reporting entity to present a medium or lower money laundering or terrorism financing risk.

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Posted 26th February 2008 by David Jacobson in Anti-money laundering