AUSTRAC may provide a reporting entity with feedback on the entity's AML/CTF program or any other industry-wide AML/CTF matters. This feedback will be a key driver in enhancing and maintaining the currency of a reporting entity's AML/CTF program. Your business has an obligation to address any shortcomings to comply with the AML/CTF Act and Rules, even if AUSTRAC does not provide feedback directly.

Part A must include appropriate procedures for the reporting entity, or each reporting entity in a designated business group, to have regard to AUSTRAC feedback, such as recommendations contained in AUSTRAC audit/compliance reports on the reporting entity's ML/TF risk management performance.