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.
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.
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.
Today AUSTRAC released four new Australian banking sector money laundering and terrorism financing (ML/TF) risk assessments. The four assessments examine the threats criminals pose to Australia’s major banks, other domestic banks, foreign subsidiary banks and foreign bank branches operating in Australia.
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.
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.
AUSTRAC has released draft Anti-Money Laundering and Counter-Terrorism Financing Rules (AML/CTF Rules) for public consultation.
The draft proposes to add Chapters 79 and 80, and amend Chapters 21 and 48 of the AML/CTF Rules.
In recent years, we’ve seen growing public awareness about money laundering and businesses are realising the threats that organised criminals pose, not only to them, but to our communities, people’s livelihoods, the safety of our children and our national security.