ADI Authorised deposit-taking institution
AML/CTF Anti-money laundering and counter-terrorism financing
AML/CTF Act Anti-Money Laundering and Counter-Terrorism Financing Act 2006
AUSTRAC Australian Transaction Reports and Analysis Centre
CEO The AUSTRAC Chief Executive Officer
EU Enforceable undertaking
FATF Financial Action Task Force; an international inter-governmental body whose purpose is the development and promotion of national and international policies to combat money laundering and terrorist financing
FIU Financial intelligence unit
FTR Act Financial Transaction Reports Act 1988
GFC Global financial crisis
G20 The G20 is made up of the finance ministers and central bank governors of 19 countries who meet to discuss key issues in the global economy
IFTI International funds transfer instruction; an instruction transmitted electronically into or out of Australia for a transfer of funds regardless of the value
Item 54 providers Providers of services as listed under the AML/CTF Act, section 6, table 1 - Financial services, item 54
KYC Know your customer
ML/TF Money laundering/terrorism financing
MSB Money services businesses
NBFS Non-bank financial services
Partner agencies The law enforcement, national security, revenue, regulatory and social justice agencies to which AUSTRAC provides information
Policy Principles Policy (Civil Penalty Orders) Principles 2006
Rules AML/CTF Rules are legislative instruments made under section 229 of the AML/CTF Act
SMR Suspicious matter report; a report submitted to AUSTRAC by a reporting entity when it has reasonable grounds to suspect that provision of a designated service may be relevant to investigation of an offence against an Australian law, including tax evasion, money laundering and terrorism financing, or that a customer is not the person they claim to be
Supervision AUSTRAC's Supervision Branches
TTR Threshold transaction report; a report submitted to AUSTRAC by a reporting entity where the provision of a designated service involves $10,000 (AUD) or more in physical currency, or $10,000 or more in e-currency
