Qualification Outline
21/07/2026 11:16 PM AWST
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Diploma of Applied Anti-Money Laundering and Counter Terrorism Financing Management
Diploma of Applied Anti-Money Laundering and Counter Terrorism Financing Management
FNS51710
S733
Replaced
Replaced
National Endorsed, State Implementation and Classification
Releases
| Release Version | Release Date | TGA Status | DTWD Status |
|---|---|---|---|
| 2.00 | 06/09/2012 | Current | Approved |
Description
This qualification is designed for individuals in anti-money laundering and counter terrorism financing (AML/CTF) job roles. It establishes benchmark standards for technical AML/CTF knowledge and practice to improve the quality and effectiveness of the AML/CTF regime in Australia.
The AML/CTF Act covers the financial sector, gambling sector and bullion dealing and any other professionals or businesses that provide particular 'designated services'. The AML/CTF Act imposes a number of obligations on businesses when they provide these designated services. These obligations include:
customer due diligence:
identification
verification of identity
ongoing monitoring of transactions
reporting:
suspicious matters
threshold transactions
international funds transfer instructions
record keeping
establishing and maintaining an AML/CTF program.
Schedule
Packaging Rules
Packaging Rules13 units of competency must be achieved:
9 core units
plus4 elective units.
1 elective units must be selected from the elective units listed below.
The remaining 2 elective units may be selected from the elective units listed below, any endorsed Training Package or accredited course. These elective units may be selected from a Diploma qualification.
Only 1 elective unit may be selected from Group A.
Elective units must be relevant to the work outcome, local industry requirements and the qualification level.
Core units of competency:
BSBCOM503B Develop processes for the management of breaches in compliance requirements
BSBCOM602B Develop and create compliance requirements
FNSFMK505A Comply with financial services legislation, industry and industry codes of practice
FNSINC402A Develop and maintain in depth knowledge of products and services used by an organisation or sector
FNSORG502A Develop and monitor policy and procedures
FNSRSK501A Undertake risk identification
FNSRSK502A Assess risks
PSPREG417A Undertake compliance audits
PSPREG502A Coordinate investigation processes
Elective units of competency:
Group A
FNSRSK601A Develop and implement risk mitigation plan
FNSRSK602A Determine and manage risk exposure strategies
Group B (General)
BSBINM401A Implement workplace information system
BSBOHS303B Contribute to OHS hazard identification and risk assessment
BSBRES401A Analyse and present research information
BSBRKG404A Monitor and maintain records in an online environment
BSBSUS501A Develop workplace policy and procedures for sustainability
FNSINC601A Apply economic principles to work in the financial services industry
PSPFRAU502B Anticipate and detect possible fraud activity
PSPFRAU504B Conduct fraud risk assessments
PSPFRAU505B Develop fraud control plans
1. Core Units
Nine (9) core units to be completed.
| State Code | National Code | Title | Hours | Type |
|---|---|---|---|---|
| D4312 | FNSRSK502A | Assess risks | 40 | Unit of competency |
| D4127 | FNSFMK505A | Comply with financial services legislation and industry codes of practice | 40 | Unit of competency |
| C8291 | PSPREG502A | Coordinate investigation processes | 80 | Unit of competency |
| D0642 | BSBCOM602B | Develop and create compliance requirements | 50 | Unit of competency |
| D4169 | FNSINC402A | Develop and maintain in-depth knowledge of products and services used by an organisation or sector | 40 | Unit of competency |
| D4263 | FNSORG502A | Develop and monitor policy and procedures | 50 | Unit of competency |
| D0640 | BSBCOM503B | Develop processes for the management of breaches in compliance requirements | 30 | Unit of competency |
| C8285 | PSPREG417A | Undertake compliance audits | 50 | Unit of competency |
| D4311 | FNSRSK501A | Undertake risk identification | 40 | Unit of competency |
2. Group A Elective Units
One (1) unit must be chosen from Group A.
Please refer to the packaging rules for the full details of available options.
| State Code | National Code | Title | Hours | Type |
|---|---|---|---|---|
| D4171 | FNSINC601A | Apply economic principles to work in the financial services industry | 55 | Unit of competency |
| D4314 | FNSRSK602A | Determine and manage risk exposure strategies | 50 | Unit of competency |
3. Group B Elective Units
Three (3) units may be chosen from Group B.
Please refer to the packaging rules for the full details of available options.
| State Code | National Code | Title | Hours | Type |
|---|---|---|---|---|
| D0971 | BSBRES401A | Analyse and present research information | 40 | Unit of competency |
| C8124 | PSPFRAU502B | Anticipate and detect possible fraud activity | 50 | Unit of competency |
| D4171 | FNSINC601A | Apply economic principles to work in the financial services industry | 55 | Unit of competency |
| C8125 | PSPFRAU504B | Conduct fraud risk assessments | 30 | Unit of competency |
| D0890 | BSBOHS303B | Contribute to OHS hazard identification and risk assessment | 30 | Unit of competency |
| C8126 | PSPFRAU505B | Develop fraud control plans | 30 | Unit of competency |
| D1023 | BSBSUS501A | Develop workplace policy and procedures for sustainability | 50 | Unit of competency |
| D0754 | BSBINM401A | IMPLEMENT WORKPLACE INFORMATION SYSTEM | 40 | Unit of competency |
| D0984 | BSBRKG404A | Monitor and maintain records in an online environment | 50 | Unit of competency |
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| AVY2 | FNS51715 | Diploma of Applied Anti-Money Laundering and Counter Terrorism Financing Management | Qualification |
No information
Entry Requirements
Not applicable.
Traineeships and Apprenticeships