Latest news and updates

AUSTRAC’s System Transformation Program aims to deliver a modern, engaging and user-friendly portal, with improved reporting capability and self-service options to help you meet your regulatory obligations.

Members of the Customer Advisory Group for the Program recently participated in a series of workshops and 1:1 interviews to provide feedback on ‘what works and what doesn’t work in AUSTRAC Online today’. Additionally, 71 responses were received to the survey on the current usability of AUSTRAC Online. 

The Financial Action Task Force (FATF), the global group that sets international anti-money laundering and counter-terrorism financing (AML/CTF) standards, has published two recent updates relating to international ML/TF risk.

The reports provide an update on jurisdictions which may pose a risk to the international financial system:

We are receiving reports of scammers sending emails to reporting entities and members of the public pretending to be from AUSTRAC and seeking payment of fines, taxes or other financial transfers. We will never demand a payment via email.

These scams attempt to trick you into paying money or giving out your personal information. Scammers often pretend to be from trusted organisations like AUSTRAC.

If you think an email claiming to be from us is not genuine, do not reply to it. Report online and email scams to Cyber.gov.au.

AUSTRAC has added Chapters 79 and 80 to the AML/CTF Rules, and amended Chapters 21 and 48 of the AML/CTF Rules.

Federal, State and Territory Government regulators, intelligence, law enforcement agencies and financial services businesses must work together to defeat crime

A new financial crime guide will help you to detect and report cuckoo smurfing.

Learn the difference between identifying a customer’s source of wealth and source of funds as part of your customer due diligence processes

The latest industry updates for digital currency exchange providers about managing risk in this ever-evolving sector.

A money laundering and terrorism financing (ML/TF) risk assessment, released today, shows a medium level of ML/TF risk to Australia’s non-bank lending and financing sector.

SWIFT will be migrating to the ISO 20022