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A new systems transformation program to transform the way you interact and report to AUSTRAC.
AUSTRAC has released a new financial crime guide to warn businesses and their customers about the dangers of a money laundering method known as ‘cuckoo smurfing’.
AUSTRAC has issued a remedial direction to Australian Military Bank Ltd (AMB) requiring the mutual bank to review and uplift its compliance with Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) laws. The action follows ongoing regulatory engagement with AMB which identified concerns related to the effectiveness of AMB’s AML/CTF systems and controls.
Two more Australians have been arrested and charged in connection to a major joint international MDMA drug investigation originating in the Netherlands in 2019.
Download the new suite of resources on how you can submit more effective suspicious matter reports to AUSTRAC.
It will be alleged the syndicate has claimed more than $10 million since 2017 in NDIS funding. The value of the fraudulent claims are alleged to be in the millions. Investigations continue into the scale and total value involved.
The Financial Action Task Force (FATF) is inviting feedback on draft guidance about proliferation financing risk, and on digital currencies and digital currency exchange providers, known internationally as virtual assets and virtual asset service providers.
As Australia’s financial intelligence unit (FIU), AUSTRAC works closely with our FIU counterparts overseas to strengthen skills, improve governance, increase compliance with international standards and develop important relationships.
We recently released a financial crime guide to help you understand, identify and report suspicious financial activity to prevent fraud against the National Disability Insurance Scheme (NDIS).
NDIS fraud has a serious impact on the Australian public and economy, by stealing directly from the pockets of Australians living with disability.
We recently updated the applicable customer identification procedures (ACIP) and ongoing customer due diligence resources, to help you strengthen these two important parts of your AML/CTF program.
Your ACIP and ongoing customer due diligence are critical to protecting your business and the community from serious and organised crime.
