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AUSTRAC's approach to regulation

View or download the full PDF (PDF, 571.97KB).

This information paper provides reporting entities and other stakeholders with useful insights into how AUSTRAC views and fulfils its regulatory role under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006.

Insights in AUSTRAC’s approach to regulation include:

  • AUSTRAC’s vision and purpose, and how our regulatory function combines with our financial intelligence function to achieve this
  • the significance of reporting entities as the first line of defence in protecting our financial system from criminal abuse
  • AUSTRAC’s regulatory approach and principles, including our commitment to collaboration, outcome-orientation, efficiency and continuous improvement
  • our responsive approach to regulation, whereby we engage in a range of different regulatory activities depending on reporting entity needs and risks
  • how we exercise our enforcement powers when we identify serious or systemic non-compliance, including the factors we take into account when choosing an intervention.

The content on this website is general and is not legal advice. Before you make a decision or take a particular action based on the content on this website, you should check its accuracy, completeness, currency and relevance for your purposes. You may wish to seek independent professional advice.

Last updated: 19 Jul 2019
Page ID: 204

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