AUSTRAC Regulatory Guide
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Regulatory Guide
Introduction (PDF, 330KB)
Foreword by the CEO
The introduction and commencement of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) and AML/CTF Rules represented the first stage of reforms to Australia's AML/CTF legislative environment.
The reforms are a major step forward in bringing Australia into line with international best practice to deter money laundering and terrorism financing and with standards set by the Financial Action Task Force (FATF).
The AML/CTF Act has significantly expanded AUSTRAC's role as Australia's AML/CTF regulator. AUSTRAC is now moving to build on and consolidate its relationships with regulated entities and to encourage a spirit of continuous voluntary compliance with the AML/CTF Act and AML/CTF Rules and the Financial Transaction Reports Act 1988 (FTR Act).
In its educational role, AUSTRAC aims to assist regulated entities to meet their obligations and uses a range of delivery channels including a Self Assessment Questionnaire, guidance notes, presentations, Help Desk services and online learning materials. The AUSTRAC Regulatory Guide is one part of AUSTRAC's suite of educational tools.
The AUSTRAC Regulatory Guide is designed to be a practical document to assist industry to understand and meet its obligations under the AML/CTF Act and AML/CTF Rules as well as the FTR Act. It provides an insight into AUSTRAC's approach to compliance with the AML/CTF legislation and refers to additional AML/CTF resources which may be of assistance to regulated entities.
I hope you find this Guide of use in meeting your AML/CTF obligations.
John L Schmidt
Chief Executive Officer, AUSTRAC
8 October 2009
