AUSTRAC’s intelligence and regulatory functions work in parallel to protect Australians and our financial system from serious and organised crime.
The Regulatory Operations and Intelligence Partnerships branches at AUSTRAC work closely together to uplift the quality of reporting from regulated businesses and contribute financial intelligence to law enforcement and national security investigations.
Over the next four years the System Transformation Program will bring substantial changes to AUSTRAC Online, transforming the way regulated entities interact and report to AUSTRAC.
These changes include a modern and intuitive user interface, ensuring the platform is tailored for different industries and portal access on multiple platforms, including mobile devices.
This month marks the third anniversary of the Australian Centre to Counter Child Exploitation (ACCCE). We partner with the ACCCE to drive a collaborative national response against child sexual exploitation, to protect some of the most vulnerable members of our community—our children.
AUSTRAC is a proud member of the AFP-led ACCCE, which partners with government and Commonwealth agencies, law enforcement and investigative authorities, non-government organisations, the private sector and academia, to counter the epidemic of child exploitation.
To support culturally and linguistically diverse businesses and their customers, we recently released guidance materials for remittance service providers in a range of languages other than English.
The resources include fact sheets and guides to help you understand your obligations and manage your risks, and they cover:
AUSTRAC’s rolling risk assessment program examines current money laundering and terrorism financing (ML/TF) threats and vulnerabilities in specific parts of Australia’s financial sector.
AUSTRAC’s risk assessments are an important resource for reporting entities to understand their risk environments, help refine internal controls and better meet reporting obligations – particularly in relation to suspicious matter reporting.
The Illicit Tobacco Taskforce (ITTF) is an Australian Border Force (ABF)-led multiagency taskforce established in 2018. The ITTF is focused on investigating, prosecuting, and dismantling international organised crime groups who use the proceeds of illicit tobacco to fund criminal activities.
The ITTF combines the operational, investigative and intelligence capabilities of the ABF, AUSTRAC, Australian Taxation Office, Department of Home Affairs, Australian Criminal Intelligence Commission and Commonwealth Director of Public Prosecutions.
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.