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AUSTRAC’s System Transformation Program update

27 June 2022

AUSTRAC continues work to develop a modernised AUSTRAC Online through its Reporting Entity System Transformation (REST) program. 

This year we have been continuing to support reporting entities (REs) impacted by changes to SWIFT messaging by:

  • developing and releasing into training the beta version 1.0 of our new XML reporting functionality. This version will support the upload of IFTI-E reports in XML and ZIP formats through a new user interface, and a new API for increased transaction report submission capacity
  • engaging a small number of REs in our first ever test working group to conduct user acceptance testing on the beta version 1.0 system functionality
  • drafting and finalising our new IFTI-E v2.0 schema to enable IFTI-E reporting in the ISO 20022 format
  • hosting our second ISO 20022 drop in Q and A session where we demonstrated the beta version 1.0 system solution and answered questions from affected REs about ISO 20022. 

This year we also commenced development of a new customer relationship management (CRM) platform. The CRM will give AUSTRAC a more complete view of RE interactions with us and help us develop enhanced self-service capabilities for REs in AUSTRAC Online. 

We are also planning upcoming sessions and surveys for our Customer Advisory Group (CAG) members. These include:

  • streamlining the RE enrolment and registration processes 
  • threshold transaction reports review
  • suspicious matter reports review
  • single and multiple data entry optimisation.

If you would like to be a member of the CAG, email haveyoursay@austrac.gov.au. You will be notified of upcoming opportunities to participate in REST workshops and surveys.