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ADIs: Banks, credit unions and building societies guidance resources

Regulatory guide

This information will help you understand and implement reforms related to correspondent banking, which came into effect on 17 June 2021.

Financial crime guide

Organised criminals use ‘cuckoo smurfing’ as a method of laundering money to disguise and integrate their funds across borders to profit from and further enable their illegal activities.

Generally this method of money laundering relies on exploiting the bank accounts of customers expecting to receive legitimate funds. These customers are often unaware that the funds transferred into their accounts are the proceeds of crime.

To protect Australia’s financial system against exploitation, AUSTRAC’s Fintel Alliance has developed this financial crime guide on cuckoo smurfing.

Detailed guidance

A guide for authorised deposit-taking institution (ADI) staff who complete and submit threshold transaction reports (TTRs)

Detailed guidance

This guide clarifies how to treat a strata corporation (also known as body corporate or owners corporation) for the purpose of customer and beneficial ownership identification. It also provides the relevant provisions of the Rules to refer to if beneficial owners cannot be determined using the standard criteria.

Risk assessment

With information specific to mutual banks, this report outlines the sector’s exposure to financial crime and includes pathways to strengthen risk mitigation.

Detailed guidance

Find information related to agent banking arrangements, details related to the correlation between the designated service provider and the agent bank, reporting obligations in relation to Threshold transaction report (TTR) and what are AUSTRAC's expectations from the account provider.

Detailed guidance

A strategic analysis brief about how serious organised crime groups use business express deposit boxes (BED) boxes and internet banking facilities to avoid your KYC and ongoing customer due diligence procedures. It includes 'red flags' that may indicate serious financial crime. Strategic analysis briefs provide insights on ML/TF risks, trends and methods.

Detailed guidance

A guidance note about the correspondent banking provisions in AML/CTF legislation. Guidance notes help reporting entities understand specific provisions of the AML/CTF Act and Rules so they can meet their obligations.