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A set of new guidance resources including a video animation, fact sheet and frequently asked questions on how to submit more effective suspicious matter reports (SMRs) is now available.
Submitting SMRs to AUSTRAC helps to protect the Australian community from money laundering, terrorism financing and other serious and organised crime.
Digital currency exchange (DCE) providers operating in Australia have been required to register with AUSTRAC since April 2018. Next month marks three years since the first digital currency exchanges started to register.
Throughout 2020 we saw a number of key areas where businesses could improve their anti-money laundering and counter-terrorism financing (AML/CTF) compliance.
To help you review and strengthen your AML/CTF program, systems and controls, we’ve developed five new regulatory guides.
Reforms have been made to strengthen Australia’s anti-money laundering and counter-terrorism financing laws.
In simpler times, a business front would suffice to make illegally acquired money appear legitimate. A chain of laundromats did the job for Al Capone and is the origin of the term ‘money laundering’.
Over time, criminals have turned to increasingly sophisticated methods to disguise the origins of dirty money and integrate it into the mainstream economy.
AUSTRAC has today launched its ML/TF risk assessment of the junket tour operations (JTOs) sector.
A new financial crime guide will help businesses understand, identify and report suspicious financial activity to prevent fraud against the National Disability Insurance Scheme (NDIS). NDIS fraud is not a victimless crime and has a serious impact on the Australian public and economy, by stealing directly from the pockets of Australians living with disability.
The Serious Financial Crime Taskforce (SFCT) is an Australian Taxation Office (ATO) led multi-agency taskforce established in 2015. It brings together the knowledge, resources and experience of law enforcement and regulatory agencies to identify, prioritise and treat the threats posed by serious financial crime.
Supporting businesses with guidance and education resources is a key priority for AUSTRAC. We’re developing new guidance and reviewing our existing guidance to ensure it is up to date and useful for your business.
Your business plays a crucial role in identifying and reporting financial crime to protect Australia’s financial system and community from money laundering and other serious crimes.
