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Your information has been submitted.
Thank you for advising AUSTRAC of your status under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act).
It is a matter for you to determine what, if any, obligations you have under the AML/CTF Act. AUSTRAC recommends that reporting entities seek their own independent legal advice about how the AML/CTF Act relates to their circumstances.
We have noted your position and will refrain from sending you further reminders about the AML/CTF compliance report 2011.
Please note that AUSTRAC is not endorsing your decision on this matter. This does not preclude AUSTRAC from commencing monitoring or enforcement action should we form the view that you are providing a designated service without meeting your obligations under the AML/CTF Act.
For more information about AUSTRAC's enforcement powers, refer to the AUSTRAC enforcement strategy 2011-12.
20-DEC-2011
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