On 2 January 2019, AUSTRAC will open the Compliance Report 2018.
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.
What has changed?
Since the last compliance report, we have updated the questions to make them easier to understand, more relevant to your businesses’ current AML/CTF risks and in a modernised format, making it easier to access and complete.
It will also increase AUSTRAC’s understanding of ML/TF risks across different businesses and industries, and assist us ensure we are providing tailored education and guidance
How and when - compliance report 2018
- The report will be available through AUSTRAC Online from 2 January 2019. Log into AUSTRAC Online, select 'Compliance Reports' and 'Open Compliance report 2018'.
- 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 are provided now for your information only to assist your business prepare for when the report opens on 2 January next year.
Take some time to look at these questions and familiarise yourself.
How we use the information you send 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 Compliance Report 2018 unless you are:
- A small gaming venues 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 AML/CTF Act
- A remittance provider that only provides services as an affiliate on behalf of a remittance network provider
Compliance report response form
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 an RE 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 which 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 into 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 AUSTRAC’s compliance guide or please get in touch with the AUSTRAC Contact Centre:
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