Reporting to AUSTRAC (Reform)
As a reporting entity, you must submit the following reports to us:
Suspicious matter reports: if you suspect a person isn’t who they claim to be, or you have information relevant to criminal activity. Due within 24 hours of forming the suspicion if it relates to terrorism financing, or 3 business days for other suspicions.
Threshold transaction reports: for transactions involving cash of $10,000 or more. Due within 10 business days after the date of the transaction.
International funds transfer reports: for instructions to transfer funds into or out of Australia. Due within 10 business days after the day the instruction was sent or received.
Cross-border movement reports: if you move cash and other monetary instruments of $10,000 or more into or out of Australia. Due before you pass through Customs, before a monetary instrument is sent or within 5 business days of receipt.
Compliance reports: an annual report about how you met your obligations the previous calendar year.
This guidance sets out how we interpret the Act, along with associated Rules and regulations. Australian courts are ultimately responsible for interpreting these laws and determining if any provisions of these laws are contravened.
The examples and scenarios in this guidance are meant to help explain our interpretation of these laws. They’re not exhaustive or meant to cover every possible scenario.
This guidance provides general information and isn't a substitute for legal advice. This guidance avoids legal language wherever possible and it might include generalisations about the application of the law. Some provisions of the law referred to have exceptions or important qualifications. In most cases your particular circumstances must be taken into account when determining how the law applies to you.