FNSACM401

Evaluate and authorise payment requests

Below is a list of legislative instruments and an industry code of practice that apply to payment systems.

Provide a summary of the requirements of each legislative instrument and the code as they relate to checking and authorising payment requests.

a. Anti-Money Laundering and Counter-Terrorism Financing Act 2006

b. The Financial Transaction Reports Act

c. The Privacy Act 1988 and Australian Privacy principles

d. Accounting Standards

f. Payment Systems (Regulation) Act 1998

g. e-Payments code