AUSTRAC's approach to regulation
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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.