AML/CTF compliance reporting 2015

Contents

An AML/CTF compliance report is an annual report which provides AUSTRAC with information about your compliance with the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act), the regulations and the Anti-Money Laundering and Counter-Terrorism Financing Rules Instrument 2007 (No.1) (AML/CTF Rules).

You will need to submit an AML/CTF compliance report to AUSTRAC if you are a reporting entity who offered designated services during any part of the reporting period of 1 January 2015 to 31 December 2015. It is a legislative requirement under the AML/CTF Rules to submit an AML/CTF compliance report to AUSTRAC.

For further information about designated services, reporting obligations and exemptions please visit the AUSTRAC compliance guide.


Does my business need to submit a compliance report?

All businesses that provide designated service/s must submit a compliance report unless covered by an exemption.

You are exempt from submitting a compliance report if you are a:

  • small gaming venue licensed to operate no more than 15 electronic gaming machines
  • AFSL holder who only makes arrangements for another person to receive a designated service covered by the AML/CTF Act
  • registered remittance network provider (RNP) and registered affiliate.

If you are not covered by an exemption, and believe you are not a reporting entity or do not have to submit an AML/CTF compliance report, please complete a Compliance report response form (below under Guides and Forms) or call the AUSTRAC Contact Centre on 1300 021 037 (a local call within Australia) or email contact@austrac.gov.au

My business closed or ceased offering a designated service - do I still need to complete a compliance report?

If you offered any designated services during the reporting period of 1 January 2015 to 31 December 2015, you must still complete an AML/CTF compliance report for the period you did offer those services.

In addition, if your business is no longer a reporting entity, you must submit an 'RE Roll Removal' request form. This form is available on the Business Profile page of your AUSTRAC Online account.


When is my 2015 AML/CTF compliance report due?

Lodgement period

The compliance report should be completed and submitted to AUSTRAC during the lodgement period. The lodgement period for the 2015 compliance report is:

4 January 2016–31 March 2016

It is AUSTRAC's strong preference for the AML/CTF compliance report to be completed online. However, those who do not have internet access can submit paper-based compliance reports.

 


How do I submit my report?

The easiest way to submit your compliance report is through AUSTRAC Online.

Simply log into your AUSTRAC Online account and click on 'Compliance report'. You will need to create the report, answer the questions and then click 'submit'.

For further information about AUSTRAC Online please visit the About AUSTRAC Online page.


What’s new?

A new question

In 2015 AUSTRAC has introduced a new question (Question 23) into the Compliance Report. This question relates to the increased due diligence requirements that came into effect on 1 June 2014. For further information regarding this new question please visit the CR15 Instruction guide.

Update on the review of AUSTRAC’s Compliance Reporting Framework

Industry submissions have raised a number of issues relating to the proposed changes to the AML/CTF compliance reporting framework. 

AUSTRAC welcomes that feedback and the well-considered suggestions made by stakeholders to improve the compliance disclosure framework under the AML/CTF Act. 

AUSTRAC recognises the burden of regulation on individuals, businesses and community organisations. We are committed to considering alternative arrangements that limit any undue regulatory burden whilst still achieving outcomes. 

A statutory review into the AML/CTF regime is currently underway. That review is considering the compliance reporting obligations under the AML/CTF Act.

AUSTRAC will await the outcomes of the review before finalising any changes to the compliance reporting framework.

In the interim reporting entities with a compliance reporting obligation are still required to submit their annual compliance report under the current arrangements.

The lodgment period for the submission of the 2015 compliance report opens on Monday 4 January 2016 and closes on Thursday 31 March 2016.


Who can I contact if I need help?

You may contact the AUSTRAC Contact Centre on 1300 021 037 (a local call within Australia) or email contact@austrac.gov.au.

AUSTRAC also provides free access to a translation and interpreting service to assist people from non-English speaking backgrounds. To access the translation service, telephone 131 450 and ask for 'AUSTRAC on 1300 021 037'.


Guides and forms

Instruction guide

Sample report

Compliance report response form

AUSTRAC compliance guide