- What is an AML/CTF compliance report?
- Who must submit an AML/CTF compliance report?
- How do I submit an AML/CTF compliance report?
- What information must be reported in an AML/CTF compliance report?
- When are AML/CTF compliance reports due?
- What are the AML/CTF compliance reporting obligations for DBG members?
- Does a reporting entity that ceased providing designated services during the reporting year need to submit an AML/CTF compliance report for that year?
- What are the penalties for failing to submit an AML/CTF compliance report?
- Additional information
AML/CTF compliance reports provide AUSTRAC with information about a reporting entity's compliance with the AML/CTF Act, Regulations and Rules. Under Chapter 11 of the AML/CTF Rules, reporting entities must submit regular AML/CTF compliance reports (usually annually).
All reporting entities must submit AML/CTF compliance reports to AUSTRAC, unless they are covered by an exemption. Exemptions apply to:
- reporting entities holding an Australian financial services licence that only provide the designated service in item 54 (table 1, section 6 the AML/CTF Act)
- venues that are licensed to have up to 15 electronic gaming machines, who do not provide any other designated services
- affiliates of Remittance Network Providers, who do not provide any other designated services.
Exemptions from the AML/CTF compliance reporting obligations may also be provided to classes of reporting entities for a particular reporting period in the AML/CTF Rules. See Chapter 9 - Exemptions from obligations under the AML/CTF Act for more information.
Reporting entities who must submit AML/CTF compliance reports to AUSTRAC can access the report through their AUSTRAC Online account.
If you believe you are covered by an exemption from this obligation, you should complete a Compliance Report Response Form (CRRF) available on the AUSTRAC website and we will consider your claim.
If you do not have access to AUSTRAC Online to access the AML/CTF compliance report, you should contact the AUSTRAC Contact Centre.
The compliance report includes information about an entity's AML/CTF programs, customer identification procedures and reporting obligations. The AML/CTF compliance report generally requires information relating to the previous calendar year (i.e. the reporting period is 1 January to 31 December).
We inform reporting entities about the due date for compliance reporting on our website, in AUSTRAC Online messages and by sending emails.
The report form is made available from 2 January of the year after the reporting period. Reporting entities must return their AML/CTF compliance report by 31 March of the year after the reporting period.
For example, the AML/CTF compliance report will be available in AUSTRAC Online from 2 January 2019 for a reporting period covering 1 January 2018 to 31 December 2018. The due date to return the report to AUSTRAC, in this example, is 31 March 2019.
Subsections 47(6) and 47(7) of the AML/CTF Act allow one member of a designated business group (DBG) to lodge an AML/CTF compliance report on behalf of all of the reporting entities within that DBG. For further information on DBGs (including the definition) see Chapter 3 - Designated business groups.
Does a reporting entity that ceased providing designated services during the reporting year need to submit an AML/CTF compliance report for that year?
No, if you have ceased providing a designated service during the reporting period you are not required to complete an AML/CTF compliance report for that year.
Yes. Failure to submit an AML/CTF compliance report can result in:
- an infringement notice (see s186B of the AML/CTF Act), or
- a civil penalty order (see s175 of the AML/CTF Act)
Provision of false or misleading information in an AML/CTF compliance report is a criminal offence (see ss136 and 137 of the AML/CTF Act).