VBA Anti-Money Laundering and Counter Terrorism Financing Assessment and Certification Portal
Welcome to the VBA Anti-Money Laundering and Counter Terrorism Financing Assessment and Certification Portal.
This service has been developed by the VBA through partnership with Intelleqt Consulting Pty Ltd and Insync Surveys Pty Ltd.
The objective of the service is to help VBA members demonstrate their compliance with the AML/CTF regulatory obligations in an efficient and cost effective way. The service consists of several steps:
1. Click through to the Portal from the VBA website or link provided (you already have).
2. Select the questionnaire option that best reflects the shape of your business (click place order below).
3. Complete all of the questions in each of the 10 sections.
4. Upload the requested documents (at the end of the questionnaire).
5. Agree a meeting time with Intelleqt Consulting to discuss your responses, documentation, and business operations in order to determine the outcome of the review and assessment process. This may be an iterative meeting process depending on the situation.
There are 3 potential outcomes from this process:
1. You are able to demonstrate effective understanding of and compliance with the AML/CTF legal requirements;
2. You are close to being able to demonstrate effective understanding of and compliance with the AML/CTF legal requirements; and
3. You are not close enough to being able to demonstrate effective understanding of and compliance with the AML/CTF legal requirements.
In outcome (1) you will receive a report (and ‘Certificate’) from Intelleqt Consulting showing you have been assessed as compliant with AML/CTF requirements.
In outcome (2) you will receive a report saying you are almost compliant and if you action the listed recommendations within 3 months, can be considered compliant (and receive a ‘Certificate’).
In outcome (3) you will receive a report saying you are not yet close to compliance and identifies some of the key areas for improvement.
Your report will also show how you compare to other VBA members in the same ‘size’ category, where sufficient members have completed the questionnaire.
The AML/CTF law requires an independent review every 3 years at a minimum. It is important that such reviews provide an assessment based on factually correct documents and truthful statements – both of which are tested for accuracy and understanding. Your understanding of this VBA service and how it works will help ensure it is as efficient and effective as it can be.
Thank you for your engagement and commitment to meaningful compliance.