The AUSTRAC compliance report 2018 is now open for completion.
The annual compliance report is a self-assessment of your anti-money laundering and counter-terrorism financing (AML/CTF) compliance.
It is an opportunity to tell us how you are complying with your AML/CTF obligations and helps us to understand what assistance you might need.
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What has changed?
Since the last compliance report, we have updated the questions to make them easier to understand, more relevant to your business’s current AML/CTF risks and in a modernised format, making it easier to access and complete.
It will also increase AUSTRAC’s understanding of money laundering/terrorism financing (ML/TF) risks across different businesses and industries, and assist us to ensure we are providing tailored education and guidance.
You can now use desktop computers, laptops, tablets or mobile phones to access and complete the annual compliance report.
How and when - compliance report 2018
- The report is now available through AUSTRAC Online. Log in to AUSTRAC Online, select 'Compliance Reports' and 'Open Compliance report'.
- You must complete and submit the compliance report between 2 January and 31 March 2019.
- All questions refer to your business activities from 1 January 2018 to 31 December 2018, unless otherwise stated.
Questions in the compliance report 2018
The questions here are provided for your information only. Take some time to look at these questions and familiarise yourself.
How we use the information you report to us
AUSTRAC uses the information we receive to:
- measure effectiveness of your AML/CTF compliance
- increase AUSTRAC’s understanding of ML/TF risks across different businesses and industries
- improve education and guidance.
Does my business need to submit a compliance report?
All businesses that provide designated service/s must complete the compliance report 2018 unless you are:
- a small gaming venue licenced to operate no more than 15 electronic gaming machines
- an Australian Financial Services Licence (AFSL) holder who only makes arrangements for another person to receive a designated service covered by the Anti-Money Laundering and Counter-Terrorism Financing Act 2006
- a remittance provider that only provides services as an affiliate on behalf of a remittance network provider.
If you are not one of the above businesses, but believe you do not have to submit an AML/CTF compliance report, you will need to complete a ‘compliance report response form’.
Are your business details correct?
It is important your business details in AUSTRAC Online are accurate to make sure you are directed to the most relevant set of questions and that your responses are properly evaluated.
Now is the time to update your business details. Log in to AUSTRAC Online to check your details are correct.
No longer a reporting entity
If your business is no longer a reporting entity, you must submit a Reporting Entities Roll removal request form. This form is available on the Business Profile page of AUSTRAC Online.
Remittance provider - network provider, affiliate or independent?
You must complete the compliance report 2018 if you are registered as:
- an independent remittance provider
- a remittance network provider
- either or both of the above and also registered as an affiliate.
If you are registered only as an affiliate, you are not required to complete the compliance report 2018.
Answering questions as a remittance network provider
If you are registered as a remittance network provider only, you should answer questions relating to ‘customers’ with reference to your affiliates.
For example, where the question asks about your customer types, you should select the responses that correspond to the types of entities your affiliates are.
Member of a designated business group (DBG)?
Any member of a DBG may lodge the annual compliance report on behalf of the whole DBG. If you are submitting a compliance report on behalf of all other DBG members, you will need to advise individual DBG members of the submission. AUSTRAC does not advise other members of a DBG that a compliance report has been received.
Any member of the DBG substantially different to the other DBG members may choose to submit an alternative compliance report. To use this option, once logged in to AUSTRAC Online, open ‘Compliance Reports’ within the ‘My Business’ menu. Locate the submitted DBG compliance report in the ‘Existing Reports list’ and select the ‘override’ link.
Further information is available in the AUSTRAC compliance guide or please get in touch with the AUSTRAC Contact Centre:
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