Preview questions in the AUSTRAC 2021 compliance report
The information on this page will help you complete the 2021 compliance report.
Your 2021 compliance report will cover your business activities for the 2021 calendar year.
When your report is due
Your 2021 compliance report must be submitted to AUSTRAC between 1 January and 31 March 2022. There can be penalties for failing to submit your compliance report. Find out more about the consequences of not complying.
2021 compliance report questions
The questions in the 2021 compliance report are listed below to help you prepare. We’ve made changes to some questions this year to make it easier for you to complete your report.
An explanation of the bolded terms can be found under ‘key terms’. Further information can be found by clicking the linked text.
Designated services during 2021
Questions | Key terms |
Did you offer designated services during all or part of the reporting period (1 January 2021 to 31 December 2021? (Yes or No) | |
If No (you will only be presented with the Your feedback and Review and submit sections of the form): Are you sure? You have been enrolled as providing designated services during this period.
If you have stopped providing designated services but are likely to provide designated services again in the future, you do not need to request removal from the Reporting Entities Roll. However, AUSTRAC may be in touch with you to understand your plans to recommence providing designated services. |
Your business
Questions | Key terms |
Do you have less than 5 employees? (Yes or No) Has there been a change in key personnel or contact details for your business? (Yes or No) |
Employee A person who is employed full time or part time, or a casual staff member paid under contract or through wages or salary. Key personnel Individuals who have the ability to influence business decisions over the entity’s finances and operations. |
If Yes: Have you notified AUSTRAC of these changes? (Yes or No) How did you provide designated services in 2021? (Select all that apply)
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IDM Intelligent Deposit Machine, a type of advanced ATM that offers self-service transaction facilities which credits cash and cheque deposits to recipient accounts. Mobile application Is software often called an "App", designed to run on a mobile device, such as a smartphone or tablet. Remittance platform A system that enables funds transfers for remittance purposes. If you are a remittance network provider, whose affiliates conduct transactions using your remittance platforms, you MUST select this option. Self-service gambling terminal A terminal at which customers can credit or withdraw from an account or place a bet or wager. Self-service gambling terminal does NOT include an electronic gaming machine. Additional method(s) Select this option if you provided designated service(s) using methods other than, or in addition to, those that are listed. If you enter more than one 'Additional method', please separate them with a comma. |
Were any of the above delivery methods introduced in 2021? (Yes or No) |
Delivery methods Channels through which your business provides or delivers the designated services. |
If Yes: Why were these delivery methods introduced in 2021? Which delivery methods were introduced in 2021? (select all that apply)
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Did you outsource customer identification? (Yes or No) |
Outsourcing Outsourcing of the AML/CTF program on your behalf:
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If Yes: Business legal name of provider? |
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Did you outsource AML/CTF program development? (Yes or No) |
Outsourcing AML/CTF program development includes:
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If Yes: Have you checked the program is tailored to your business and its ML/TF risks? Business legal name of provider? |
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Did you outsource transaction monitoring? (Yes or No) | |
If Yes: Business legal name of provider? |
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Did you outsource transaction reporting? (Yes or No) |
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If Yes: Business legal name of provider? |
Managing AML/CTF program
Questions | Key terms |
Do you have an AML/CTF program? (Yes or No) |
AML/CTF Program Sole trader or individual If your business operates as a sole trader or an individual, you are still required to have an AML/CTF program. |
If No: What was the reason for not having an AML/CTF program? |
AML/CTF Program Explain why you do not have an AML/CTF program. |
If Yes: When was the AML/CTF program last approved? (select one)
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AML/CTF program approval Approved program Approved means adoption of the initial program or approval of changes to your program by your board, senior management or equivalent. Sole trader If your business operates as a sole trader or an individual, then the sole trader or individual will need to approve the program. Governing board If your business does not have a governing board, then your senior management will need to approve the program. |
If the program has not been approved: Why has the AML/CTF program not been approved? |
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Did you make any changes to your AML/CTF program in 2021? (Yes or No) | |
If Yes: What prompted these changes? (Select all that apply)
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Changes to AML/CTF program Media reports Additional reason(s) If you enter more than one 'Additional reason', please separate them with a comma. |
When was Part A of the program most recently independently reviewed?(select one)
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If your program has not been independently reviewed: Why has your program not been independently reviewed? |
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How often does your AML/CTF program state that your Part A program must be independently reviewed? (select one)
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If no frequency of independent review is specified: Why does your program not specify a frequency? (free text) |
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If your AML/CTF program has been independently reviewed: What prompted this review? (Select all that apply)
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Reasons for review Media reports Additional reason(s) for changes If you enter more than one 'Additional reason', please separate them with a comma. |
How was the independent review conducted? (Internally/ Externally/ Combined/ Service provider type/ Accountant/ Lawyer/ Other) | |
If conducted externally: Service provider type (select one)
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Service provider name | Business legal name of the provider |
Did you report internally to the board or senior management on any of the following matters in 2021? (Yes, No, I am solely responsible for AML/CTF oversight - the business does not have a Board or Senior Management)
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Reporting internally Other matter(s) If you enter more than one 'Other matter', please separate them with a comma. |
What matters were reported internally in 2021?
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Assessing ML/TF risk
Questions | Key terms |
Did you do an ML/TF risk assessment of your business in 2021? (Yes or No) |
ML/TF ML/TF means money laundering and terrorism financing |
If Yes: Was this risk assessment documented? (Yes or No) |
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If Yes: What prompted this risk assessment? (select all that apply)
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Media reports Reports include, but are not limited to, newspaper articles, news websites, social media. Additional reason(s) Select this option if you had reason(s) other than, or in addition to, the reasons that are listed. If you enter more than one additional reason, please separate them with a comma. |
Do you have a documented process for conducting a risk assessment? (Yes or No) |
Managing employee risk
Questions | Key terms |
What employee checks do you conduct?(select all that apply)
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Employee check Third party providers You have also conducted a check if you use a third party provider for employee due diligence. Select the checks that they undertake on your behalf. Open source searches Information searches using publicly available sources on internet. PEP A PEP is a politically exposed person. Social media review Information searches on social network online platforms. Additional checks Select this option if you conducted checks other than, or in addition to, those that are listed. If you enter more than one 'Additional check', please separate them with a comma. |
Do you assess the ML/TF risk for each employee’s role? (Yes or No) |
ML/TF ML/TF means money laundering and terrorism financing. |
Did you provide AML/CTF training in 2021? (Yes or No) | |
If Yes: What AML/CTF training did you provide?
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AML/CTF training type Additional training type(s) Select this option if you provided training other than, or in addition to, the types that are listed. If you enter more than one 'Additional training', please separate them with a comma |
Did you update your AML/CTF training program in 2021? (Yes or No) |
Updates to AML/CTF training program Includes changes to the content of training, the way in which the training was delivered, who it was delivered to, or how frequently it was delivered. |
If Yes: What prompted this update? (select all that apply)
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Media reports Reports include, but are not limited to, newspaper articles, news websites, social media. Additional reason(s) Select this option if you had reason(s) other than, or in addition to, the reasons that are listed. If you enter more than one 'Additional reason', please separate them with a comma. |
Your customers
Questions | Key terms |
Customers | |
What are your Customer types? (select all that apply)
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Customer types These are the types of customers that you provide designated services to. |
Customer verification | |
Did you verify the identity of your customers in 2021? (Yes/No) | |
If Yes: How did you verify identity of your customers?
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Electronic Verification Electronic verification refers to verification of a customer’s identity via reliable and independent electronic data sources. The AML/CTF Rules do not stipulate how a business should carry out electronic verification but business must consider (among other things):
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If No: Why did you not verify the identity of your customers in 2021? (free text) |
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Risk assessment | |
How many of your customers are high risk or above? |
High risk customer You are required to assess what you consider to be a high risk customer within your business. This assessment should be set out in your AML/CTF program. Factors that you should take into account include:
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Did you perform Politically Exposed Persons (PEPs) checks in 2021? (Yes or No) |
Politically Exposed Persons (PEPs) Where your business uses a broader PEP definition than that prescribed by the AML/CTF Act, you may choose to answer based on that definition. |
If Yes: How did you identify PEPs (select all that apply)
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Politically Exposed Persons (PEPs) identification Where your business uses a broader PEP definition than that prescribed by the AML/CTF Act, you may choose to answer based on that definition. Open source searches Information searches using publicly available sources on internet. Commercial database A database of information developed and maintained by a commercial entity and made available to customers. This is the information for which you are likely to pay or subscribe for. Additional method(s) Select this option if you identify PEPs using methods other than, or in addition to, the methods that are listed. If you enter more than one ‘Additional method', please separate them with a comma. |
How many of your customers did you identify as PEPs? |
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If no PEP checks were conducted: Why did you not perform PEP checks in 2021? |
Managing customer risk
Questions | Key terms |
Unusual or potentially suspicious activity | |
Did your staff identify and report any unusual or potentially suspicious activity in 2021? (Yes or No) |
Unusual or potentially suspicious activity Your staff reporting You or your staff may report unusual or potentially suspicious activity by escalating the matter to a specified person or area within your business or by submitting a suspicious matter report (SMR) directly to AUSTRAC. |
If Yes: How did your staff report unusual or potentially suspicious activity? (select all that apply)
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Reporting of unusual or suspicious activity You or your staff may report unusual or potentially suspicious activity by escalating the matter to a specified person or area within your business or by submitting a suspicious matter report (SMR) directly to AUSTRAC. Internal Reporting processes within your business. External Reports to, and engagement with, AUSTRAC. Online form A digital form that is accessible and editable online. SMR SMR means suspicious matter report. Additional method(s) Select this option if you report using methods other than, or in addition to, the reporting methods that are listed. If you enter more than one 'Additional method', please separate them with a comma. |
Transaction Monitoring Program (TMP) | |
Do you have a Transaction Monitoring Program (TMP) in place? (Yes or No) | |
If Yes: Is your TMP Manual, automated or both? (select one) |
Manual Transactions are added to a spreadsheet, or ledger and manually reviewed for any potential anomalies, outliers, or unusual activity. Automated A series of predefined rules built into a software program or system. The rules are then run over your transaction data and alerts generate whenever a transaction ‘hits’ on a rule. |
If automated or both are selected: Describe the automated systems you use as part of your TMP (free text). |
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Did you review TMP rules in 2021? |
Transaction Monitoring Program (TMP) rules Any rules, logic or thresholds that are used to identify unusual or potentially suspicious transaction activity. |
If Yes: What prompted you to review your TMP rules? (select all that apply)
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Review of TMP rules High ratio of false-positives A significant proportion of the matters identified through a particular rule or threshold are deemed not to be suspicious. Media reports Reports include, but are not limited to, newspaper articles, news websites, social media. Additional reasons for review Select this option if you had reason(s) other than, or in addition to, those that are listed. If you enter more than one 'Additional reason', please separate them with a comma. |
If response to the question ‘Do you have a TMP in place’ is Yes:
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Did your TMP identify any suspicious customer transactions that required further review in 2021? (Yes or No) | |
If No: Why did your TMP not identify any suspicious customer transactions. (Free text) |
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If Yes: Did you review these matters in any order of priority? (Yes or No) |
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If Yes: What factors were given priority? (select all that apply)
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Jurisdiction risk Risk associated with doing business with a customer located in, or transacting through, a foreign country. ML/TF ML/TF means money laundering and terrorism financing. Additional factor(s) Select this option if you had factor(s) other than, or in addition to, those that are listed. If you enter more than one 'additional factor', please separate them with a comma. |
Enhanced Customer Due Diligence (ECDD) | |
Do you have a documented ECDD program (Yes or No) | |
Did you conduct ECDD in 2021? (Yes or No) | |
If No: Why did you not conduct ECDD in 2021? (Free text) |
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If Yes: How did you conduct ECDD?(select all that apply)
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Conducting ECDD Extra information gathered Collection of extra information from the customer or third party sources to clarify already collected KYC or beneficial owner information, or to identify the source of wealth and funds of the customer and beneficial owners. KYC information Know-Your-Customer information. Senior management approval An approval by senior management for continuing the business relationship and the provision of a designated service to the customer. Additional methods Select this option if you used method(s) other than, or in addition to, those that are listed. If you enter more than one 'Additional method', please separate them with a comma. |
Reporting to AUSTRAC
Questions | Key terms |
Were you required to submit reports to AUSTRAC in 2021? (Yes or No) |
Reports to AUSTRAC Reports include threshold transaction reports (TTR), suspicious matter reports (SMR), international funds transfer instructions (IFTI) and compliance reports. |
If Yes: How did you ensure your reports were submitted on time? (select all that apply)
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On time On time means within the timeframes specified in the AML/CTF Act and Rules. Specialised reporting function Select this option if transaction reporting was undertaken by a specific team or person who is not the AML/CTF Compliance Officer. Additional method(s) Select this option if you used method(s) other than, or in addition to, those that are listed. If you enter more than one 'Additional method', please separate them with a comma. |
If Yes: How did you ensure your reports were accurate? (select all that apply)
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Specialised reporting function Select this option if transaction reporting was undertaken by a specific team or person who is not the AML/CTF Compliance Officer. Additional method(s) Select this option if you used method(s) other than, or in addition to, those that are listed. If you enter more than one 'Additional method', please separate them with a comma. |
AUSTRAC feedback and guidance
Questions | Key terms |
Did you receive any guidance material or correspondence from AUSTRAC in relation to your business' compliance during 2021? (Yes or No) | |
If Yes: What feedback or guidance material did you receive? (select all that apply)
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What did you do in response to this? (select all that apply)
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Response to AUSTRAC feedback ML/TF ML/TF means money laundering and terrorism financing. Additional action(s) Select this option if you took action other than, or in addition to, those that are listed. If you enter more than one 'Additional action', please separate them with a comma. |
Would having the Compliance Report translated into languages other than English assist you in the process of completing the report? (Yes or No) | |
If Yes: Please enter your preferred language/s. |
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