If you have received an email or letter from AUSTRAC about your 2009 compliance report, read below.
What is a designated service and who is a reporting entity?
If you offer one or more designated services, you are captured as a 'reporting entity' under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act). The list of designated services is in section 6 of the AML/CTF Act. Reporting entities have a variety of obligations including customer identification procedures and reporting certain transactions to AUSTRAC.
What is an AML/CTF compliance report?
An AML/CTF compliance report provides AUSTRAC with information about reporting entities' compliance with the AML/CTF legislation during a specific reporting period. Entities who offered designated services during any part of the reporting period of 1 January 2009 to 31 December 2009, must complete an AML/CTF compliance report for the period they offered those services. The questions in the report require you to provide simple responses about your business's compliance with its AML/CTF obligations.
Why does AUSTRAC want this information?
As part of the Australian Government's commitment to protecting the community, the AML/CTF laws have been implemented to meet international standards which aim to reduce criminal activity and to help protect businesses from being misused for money laundering and terrorism financing. The AML/CTF Act was established in 2006 to ensure businesses have a system in place to identify their customers in certain circumstances and report details of certain transactions. An AML/CTF compliance report provides AUSTRAC with information about reporting entities' compliance with the AML/CTF legislation.
What if I am not compliant before 31 March 2010?
Even if you are not fully compliant with your AML/CTF Act obligations by 31 March 2010, you still have an obligation to have completed an AML/CTF compliance report by that date.
What if I don't submit an AML/CTF compliance report?
Civil penalties may apply for failure to provide an AML/CTF compliance report by the due date. The compliance report needs to be in the approved form and contain all the relevant information. Criminal penalties may also apply if you supply false or misleading information or documents.
What is an AML/CTF program?
An AML/CTF program is central to the risk-based approach established by the AML/CTF Act. A reporting entity must document how it identifies, mitigates and manages the risk of money laundering or terrorism financing occurring through the designated services it provides. In addition, an AML/CTF program sets out the reporting entity's applicable customer identification procedures.
What if I didn't have a written AML/CTF program during 2009?
Requirements for AML/CTF programs came into effect on 12 December 2007. The information given in an AML/CTF compliance report is used by AUSTRAC to monitor ongoing industry compliance with the AML/CTF legislation. Even if your AML/CTF program was not in place, or not fully implemented, you should answer the questions truthfully and accurately.
What if I believe I do not have to submit an AML/CTF compliance report?
If you have received an email or letter but believe that you are not a reporting entity or do not have to submit an AML/CTF compliance report, you can advise AUSTRAC by completing the Compliance report response form.
Please note that holders of an Australian financial services (AFS) licence whose only designated service is to make arrangements for a person to receive another designated service (under item 54 of table 1 in section 6 of the AML/CTF Act), are not required to submit an AML/CTF compliance report.
My business closed or ceased offering a designated service - do I still need to enrol and/or complete a compliance report?
If you offered any designated services during the reporting period of 1 January 2009 to 31 December 2009, you must still complete an AML/CTF compliance report for the period you did offer those services. For more information including how to report, see AML/CTF compliance reports.
Who can I contact if I need help?
You may contact the AUSTRAC Help Desk on 1300 021 037 (a local call within Australia) or email help_desk@austrac.gov.au.
AUSTRAC also provides free access to a translation and interpreting service to assist people from non-English speaking backgrounds to understand and meet their AML/CTF obligations. To access the translation service, telephone 131 450 and ask for 'AUSTRAC on 1300 021 037'.
Where can I find further information?
AUSTRAC has produced various educational tools and publications to assist reporting entities with their AML/CTF Act obligations. These include:
INFORMATION FOR ENROLLED ENTITIES
How do I access my AML/CTF compliance report?
It is AUSTRAC policy that AML/CTF compliance reports be submitted electronically via AUSTRAC Online (unless a reporting entity does not have the technology to do so). You will need to use your email address and password to log in to your business's AUSTRAC Online account. If you do not have internet access, please contact the AUSTRAC Help Desk on 1300 021 037 (a local call within Australia).
What if I don't know my user name to access AUSTRAC Online?
Your user name is most likely your email address and is the one you would have provided when you originally enrolled your business. However, if you cannot remember or do not know if your business is enrolled with AUSTRAC Online, please contact the AUSTRAC Help Desk on 1300 021 037 or email help_desk@austrac.gov.au.
What if I don't know my password to access AUSTRAC Online?
If you cannot remember your password, you may reset it. Go to the AUSTRAC Online login zone. Click on the 'Forgot your password?' link and enter your user ID in the field provided. This will most likely be your email address. An automated email will then be sent to you with a temporary password that you can use to access your business's AUSTRAC Online account. If you do not know what your user ID is, please contact the Help Desk on 1300 021 037.
Why was this communication sent to me when I am not the primary contact for this business?
If you have received this correspondence it is because AUSTRAC's records indicate that you are the contact person for this business. You can change the 'Primary Contact' person if your business is enrolled with AUSTRAC Online.
Log in using your user ID and password, then select the 'Business Contacts' option under 'My Business'. Click the 'Change Primary Contact' link. Select a user from the drop-down list and click 'Submit'.
INFORMATION FOR NON-ENROLLED ENTITIES
If I determine that I am a reporting entity, what am I required to do?
If your business provides one or more designated services you have a legal obligation under the AML/CTF Act to identify, mitigate and manage the risk of money laundering or terrorism financing occurring through the designated services provided. To do so you will need to do the following:
- Identify which designated services your business provides.
- Enrol your business with AUSTRAC. If you offer remittance services (also known as money transfer), you must be entered on AUSTRAC's Register of Providers of Designated Remittance Services.
- Adopt, maintain and comply with an AML/CTF program.
- Report details of certain transactions to AUSTRAC.
- You may also be required to periodically submit an AML/CTF compliance report
How do I enrol with AUSTRAC Online?
AUSTRAC Online can help you determine if your business provides designated services. You can set up access for your business to AUSTRAC's electronic reporting systems through AUSTRAC Online. To enrol, follow the step-by-step process to create your business's account.
If you do not have internet access, please contact the AUSTRAC Help Desk on 1300 021 037.
I am a pub/club with no gaming machines - do I still need to enrol?
If you are a pub/club, have no gaming machines and do not engage in any other designated services, you are not a reporting entity and do not need to enrol. However, AUSTRAC requests you advise us of this by completing the appropriate section in the Compliance report response form.
Who is the reporting entity for a pub/club with gaming machines?
The reporting entity is the holder of the licence/authority to operate gaming machines. For more information on the issue of who is the reporting entity that provides designated services in relation to gaming machine venues, refer to Gaming machine venues.
AUSTRAC requests that you advise us if you are not the holder of the licence/authority to operate gaming machines, by completing the appropriate section in the Compliance report response form.
