International trade is an attractive avenue for criminals as it presents risks and vulnerabilities that they can exploit. Criminals engaged in trade-based money laundering use the trade of goods and services to move illicit money into and out of Australia and around the world.
Some customers from diverse backgrounds or those facing challenging circumstances may have difficulty providing standard identification documents to access essential financial services.
AUSTRAC released new guidance in October 2022 to help you undertake source of funds and wealth checks on relevant customers.
We are seeking your feedback on the new draft guidance on debanking by Wednesday 21 December 2022.
On 28 November 2022, the Australian Security Intelligence Organisation (ASIO) announced that Australia’s national terrorism threat level has been downgraded from PROBABLE to POSSIBLE.
Like all agencies subject to Australia’s Privacy Principles and the Privacy Act 1988 (Privacy Act), AUSTRAC is required to have a privacy policy that informs members of the community how it collects, uses and discloses personal information.
It has been an exciting time for the Reporting Entity System Transformation (REST) program.
Today AUSTRAC released guidance to banks and superannuation funds to support people from diverse backgrounds and in challenging circumstances access the financial services they need.
Financial institutions require customers to provide identity documents to access their services.
AUSTRAC will today commence civil penalty proceedings in the Federal Court against SkyCity Adelaide Pty Ltd (SkyCity) for alleged serious and systemic non-compliance with Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) laws.
AUSTRAC has commenced civil penalty proceedings in the Federal Court against The Star Pty Limited and The Star Entertainment QLD Limited (the Star Entities) for alleged serious and systemic non-compliance with Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) laws.