Reporting obligations

22-JAN-2010

The transaction reporting obligations under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) came into effect on 12 December 2008.

What do 'reporting entities' need to report?

A 'reporting entity' is an individual, company or other entity that provides a 'designated service' as defined in the AML/CTF Act. Reporting entities include banks, non-bank financial services, remittance (money transfer) services, bullion dealers and gambling services.

Reporting entities are required to report:

Please see AML/CTF compliance reports for information about that reporting obligation, which came into effect on 12 June 2007.

Why do reporting entities need to report to AUSTRAC?

It is a requirement under Part 3 of the AML/CTF Act. Reports submitted to AUSTRAC play a major role in combating money laundering, terrorism financing and other major crime.

How are reports submitted to AUSTRAC?

Reports can be submitted electronically in three different ways through AUSTRAC Online and by paper forms:

Data entry - a data entry form suitable for reporting entities who submit single or low volumes of reports.

Spreadsheet - a data entry form for multiple reports of the same report type. This method is useful for reporting entities with medium volumes of reports.

Extraction - using a XML schema supplied by AUSTRAC, reporting entities can develop an extraction program to retrieve information from their system and create XML documents containing multiple reports of the same report type which then need to be submitted or transmitted to AUSTRAC Online. This method is useful for reporting entities with large volumes of reports.

Please note: to ensure that a reporting entity's file extraction program is adequate, and that no systemic data quality issues are present, all reporting entities utilising this method of reporting are required to undergo a 'test file process' prior to submitting reports through AUSTRAC Online.

To schedule testing with AUSTRAC, contact the Data Integrity team at filespecs@austrac.gov.au or phone 02 9950 0447.

Paper - paper reports will only be accepted from reporting entities who submit less than 50 reports (of any type) per year.

To order paper forms, contact the AUSTRAC Help Desk at help_desk@austrac.gov.au or phone 1300 021 037 (a local call within Australia).

Sample report forms, explanatory guides, XML schemas and report file format specifications available on AUSTRAC Online

AUSTRAC has published sample report forms (for sample only and not to be used to report to AUSTRAC), educational materials, XML schemas and report file format specifications for each report type. These can be accessed via the 'resources' section of AUSTRAC Online, if you have an AUSTRAC Online account.

For any technical enquiries regarding the XML schemas, report file specifications or test file process, please contact the Data Integrity team at filespecs@austrac.gov.au or phone 02 9950 0447.

For all other queries, please contact the AUSTRAC Help Desk at help_desk@austrac.gov.au or phone 1300 021 037 (a local call within Australia).

Further information

AUSTRAC has produced various educational tools and publications to assist reporting entities with their reporting obligations. These include:

The above can be accessed from the quicklinks on this page.

07-MAR-2013

Related information

05-MAR-2013

AML/CTF Act

AUSTRAC Online

AUSTRAC Regulatory Guide

Brochure series

E-learning courses

International funds transfer instructions

Policies

Public Legal Interpretations

Suspicious matters

Threshold transactions

07-MAR-2013

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