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TF - Module 3: Application Prerequisites and Process
UNIT 8: Broker Responsibilities - Best Practice
Unit 8 Topic List
1. Overview
2. Introduction
3. AML/CTF Obligations for Brokers
3.1 Understanding the AML/CTF Act
4. Comprehensive Know Your Customer (KYC) Guide for Brokers
4.1. Purpose of KYC
4.2. Scope of KYC
4.3. KYC Components
4.4. Required Information
4.5. Verification Methods
4.6. Risk-Based Approach
4.7. Record Keeping
4.8. Privacy Considerations
4.9. Technology in KYC
4.10. Ongoing Monitoring
3.1.1. Your Key AML/CTF Obligations
3.1.3. Ongoing Compliance
3.1.2. Protecting Client Information
3.1.4. Know Your Customer (KYC) Obligations for Brokers
3.1.5. Formal Definition under the Australian Banking Code of Practice
4.11. Regulatory Framework
4.12. Consequences of Non-Compliance
5. Financial Abuse: A Guide for Brokers
5.1. Understanding Financial Abuse
5.1.1. Relevant Australian Laws and Regulations
5.1.2. Broker Responsibilities
5.1.3. Identifying Financial Abuse
5.1.4. Best Practices for Brokers
5.1.5. Responding to Suspected Financial Abuse
6. Responsible Lending: A Guide for Australian Brokers
6.1. Understanding Responsible Lending in the Australian Context
6.2. Regulatory Background and Industry Standards
6.3 National Consumer Credit Protection Act 2009 (NCCP Act)
6.5. Broker Obligations in Responsible Lending
6.4. Australian Banking Code of Practice
6.5.1. Best Practices for Responsible Commercial Lending
6.5.2. Staying Current with Regulations and Policies
7. Fraud Identification of Client Data for Australian Brokers
7.1. Importance of Fraud Vigilance
7.2. Fraud Identification Techniques
7.2.1. Best Practices for Australian Brokers
8. Redaction of TFNs
9. Wrap Up!
Quiz
UNIT 9: Privacy Consent, Credit Scores and Instant NOs
Unit 9 Topic List
1. Unit Overview
2. Privacy Consent Forms for Australian Brokers
2.1. Introduction
2.1.1. The Necessity of Privacy Consent Forms
2.2 Legal and Regulatory Framework
2.2.1. Key Legislation
2.3. Industry Codes
2.4. Reasons for Requiring Signed Privacy Consent Forms
2.4.1 Legal Compliance
2.4.2. Transparency and Trust
2.5. Risk Management
2.6. Customised Services
2.7. Accountability and Documentation
2.8. Complying with Cross Border Laws
2.9. Best Practices for Privacy Consent Forms
2.10. Summary
3. Credit Reports
4. Understanding ASIC Structure of Companies and Directors
4.1. Proprietary Limited Company (Pty Ltd)
4.2. A Public Company Limited by Shares
4.3. A Company Limited by Guarantee
4.4. No Liability Company
4.5. Foreign Company
5. Other Business Structures
5.1. Partnerships
6. Trusts
6.1. Discretionary Trust (Family Trust)
6.2. Unit Trust
6.3. Hybrid Trust
6.4. Bare Trust (Simple Trust) – Used with SMSF lending
6.5. What is Phoenix Activity & Why is it Important to Identify
6.6. Sanity check - Google, Social Media
Quiz
7. Wrap Up!
Unit 10: Application Process and Timeline
Unit 10 Topic List
1. Application Process Overview
1.1. Detailed Application Process with Estimated Timelines
2. Detailed Application Process with Estimated Timelines
3. Factors Influencing Timeline and Important Considerations for Brokers
3.1. Complexity and Client Readiness
3.2. Lender Requirements and Processes
3.3. Negotiations and Unforeseen Issues
3.4. Communication and Expectation Management
3.5. Non-Qualification Scenarios
4. Wrap Up!
7. Fraud Identification of Client Data for Australian Brokers
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