Induction program for new reporting entities

About the induction program webinars

Our induction program involves 4 webinars held regularly via Microsoft Teams. We focus on the below topics:

1. AML/CTF fundamentals

An overview of the AML/CTF framework and program requirements. This includes customer identification procedures, ongoing customer due diligence and transaction reporting.

Learning outcomes:

• Explain the role of AUSTRAC and the purpose of AML/CTF regulation
• Define key terms including money laundering, terrorism financing and proliferation financing
• Describe the steps involved in developing an AML/CTF program
• Outline your AML/CTF obligations

2. Risk assessments

An in-depth look at how you can identify, mitigate and manage your business’s money laundering, terrorism financing and proliferation financing risks. We take you through the steps to conduct a risk assessment.

Learning outcomes:

• Understand what a money laundering and terrorism financing risk assessment is
• Apply the steps involved in conducting your risk assessment
• Recognise how AML/CTF policies can manage and mitigate money laundering, terrorism financing, proliferation financing risks

3. Quality reporting

A detailed explanation of your reporting obligations, what quality reporting looks like and what to avoid. This webinar focuses on your threshold transaction, suspicious matter and annual compliance reporting obligations.

Learning outcomes:

• Explain the importance of reporting to AUSTRAC and how it supports Australia’s AML/CTF regime
• Identify your reporting obligations, including what information must be reported and timelines for reporting
• Describe key report types, including:
  • suspicious matter reports (SMRs)
  • threshold transaction reports (TTRs)
  • compliance report
• Recognise what is considered good quality reporting

4. Quality reporting – International fund transfer instructions (IFTIs)

An overview of IFTI reporting requirements for businesses who accept instructions for money or property to be made available in Australia from another country, or from Australia to another country.

Learning outcomes:

• Identify your IFTI reporting obligations, including what must be reported and timeframes for reporting
• Recognise what triggers an IFTI reporting obligation
• Understand the information that must be collected and included in an IFTI report
• Avoid common IFTI reporting issues  

What are the benefits?

Previous attendees have found these webinars to be engaging and a great way to be introduced to their key AML/CTF obligations. 

Hear directly from our senior executives about the benefits of these webinars: 

• Deputy CEO of Regulation, Katie Miller: AML/CTF fundamentals
• National Manager of Regulatory Operations, Bradley Brown: Risk assessments
• National Manager of Fintel Alliance, Jon Brewer: Quality Reporting

Who should attend

These webinars are available to your AML/CTF compliance officer, principal contacts, directors or owners. 

If you are or will be using the program starter kits, this webinar series is not designed for you. We are developing specific education resources to assist you in using these. 

We ask that you please limit attendance to two people per reporting entity. If you are an existing compliance officer for a reporting entity and have already attended a webinar series on behalf of that entity, this webinar series may not be suitable. 

How to join the webinars

The webinars will be hosted on Microsoft Teams. You don’t need to have a Teams account to attend. 

Newly enrolled businesses will receive an invitation to the program via email. 

If you are not newly enrolled but would like to attend the induction program to refresh your understanding, please register below.

Please note the webinars are live events. They won’t be recorded and we won’t distribute presentation slides.

If you have any questions about the webinar series or accessibility requirements, please email induction@austrac.gov.au.

If you have any general questions in the meantime, review guidance on your obligations or contact us. 

Upcoming webinars