AUSTRAC’s CEO is in Papua New Guinea (PNG) to handover the TAIPAN IT system, developed by AUSTRAC to support Pacific Financial Intelligence Units (FIUs). This will provide access to faster, more agile systems with enhanced analytical data capabilities to detect illicit financial flows and generate financial intelligence.
AUSTRAC is cracking down on cryptocurrency ATM providers in Australia who don’t comply with the country’s anti-money laundering regime.
AUSTRAC intelligence shows cryptocurrency poses a heightened money laundering risk, and is increasingly being exploited for money laundering, scams and money mule activities.
Today the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Amendment Bill 2024 has been passed by Parliament.
AUSTRAC welcomes the passage of the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Amendment Bill 2024 through Parliament. This is a significant milestone and sends a clear message that Australia is committed to ensuring its AML/CTF regime can more effectively deter, detect and disrupt money laundering and terrorism financing.
AUSTRAC has issued sixteen businesses with infringement notices for failing to meet their reporting obligations under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act).
The infringement notices were issued because the businesses failed to submit their 2023 annual compliance reports.
Identifying ways to combat serious financial crime will be a key focus when financial intelligence units (FIUs) from across the Pacific meet in Brisbane today.
Representatives from 13 Pacific nations are gathering for the Pacific Financial Intelligence Community (PFIC) plenary, which is hosted by AUSTRAC.
New and improved enrolment and registration forms are now available in AUSTRAC Online (AO).
We have made it easier and faster for you to enrol or register a new business, or update your details. The new enrolment and registration forms have replaced the previous forms in AO.
What you need to know:
This afternoon, I will provide you with a brief overview of the biggest risks that we are focused on at AUSTRAC, our regulatory priorities and insights from our supervisory work, and an update on upcoming reform.
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:
In November, AUSTRAC is hosting a forum in Melbourne and Sydney exclusively for AML/CTF advisers. This forum is a valuable resource for advisers of all experience levels. They can expect to: