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AUSTRAC's approach to regulation

  AUSTRAC's approach to regulation

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This information paper provides reporting entities and other stakeholders with useful insights into how AUSTRAC views and fulfils its regulatory role under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006.

Insights in AUSTRAC’s approach to regulation include:

  • AUSTRAC’s vision and purpose, and how our regulatory function combines with our financial intelligence function to achieve this
  • the significance of reporting entities as the first line of defence in protecting our financial system from criminal abuse
  • AUSTRAC’s regulatory approach and principles, including our commitment to collaboration, outcome-orientation, efficiency and continuous improvement
  • our responsive approach to regulation, whereby we engage in a range of different regulatory activities depending on reporting entity needs and risks
  • how we exercise our enforcement powers when we identify serious or systemic non-compliance, including the factors we take into account when choosing an intervention.
Last modified: 05/12/2018 16:15