As a result of the COVID-19 pandemic, the restrictions on the movement of people and goods is changing the demand for products and services across sectors. AUSTRAC and our law enforcement and national intelligence partners are monitoring and preparing for a shift in the risks that criminals may pose to the financial system and the community.
The COVID-19 global pandemic is impacting all Australians and Australian businesses. AUSTRAC acknowledges that this is an unprecedented time for the superannuation sector.
In December, we wrapped up our community campaign targeting illegal money transfer dealers, or unregistered remittance dealers. The campaign ran from August to November and focused on raising public awareness and educating communities about the risks they pose.
Unregistered money transfer dealers represent a real threat to Australian communities as they are at high risk of being targeted by criminals to launder money to fund their activities. They also negatively impact the reputation of registered money transfer providers who are trying to do the right thing.
If you or your customers are in a bushfire affected part of Australia, here’s what you need to know.
Reporting to AUSTRAC each year on how your business has met its AML/CTF compliance obligations is a requirement under the AML/CTF Act.
You must submit your report by 31 March. Here’s how to get started on your report today.
The Financial Action Task Force (FATF), the global standard-setting body for anti-money laundering and combating the counter terrorism-financing (AML/CTF), has recently published two updates on international AML/CTF compliance.
The reports provide an update on jurisdictions which may pose a risk to the international financial system:
AUSTRAC has released a suite of new resources to help reporting entities implement strong AML/CTF governance practices in their business.
Get ready to start working on your 2019 compliance report, which you can submit from 1 January 2020.
AUSTRAC is currently seeking feedback to help us enhance the way we communicate and provide information to our reporting entities. If you deal with AUSTRAC in your role, we want to hear from you.