Welcome to AUSTRAC

News and updates

AUSTRAC industry contribution

28 January 2015

AUSTRAC has released the final charging model and implementation timeline for the AUSTRAC industry contribution.

Draft guidance note – Key terms used in ‘politically exposed person’ definition

19 January 2015

Public consultation closes on 13 February 2015.

2014 AML/CTF compliance reports

18 December 2014

Reporting entities with obligations under the AML/CTF Act are required to submit a compliance report between 2 January 2015 and 31 March 2015.

Media releases

One of the world’s largest remittance network providers has been fined for contraventions of Australia’s AML/CTF laws.

AUSTRAC has cancelled the registration of Sydney-based independent remitter Ocean Pass Finance Pty Ltd (Ocean Pass), as it is satisfied that its registration involves significant money laundering or terrorism financing risk.

Today, AUSTRAC cancelled the registration of a Melbourne based remitter, AVSForex Pty Ltd (AVSForex), following the conviction of its sole director for money laundering.