This year AUSTRAC’s Fintel Alliance expanded its world-leading intelligence partnerships, reinforcing its position at the forefront of Australia’s efforts to detect, disrupt and prevent serious financial misconduct.
It’s back to the basics: who, what, how and where.
The 2025 compliance reporting period is quickly approaching.
Every year, businesses that provide designated services must submit a compliance report to AUSTRAC. Your compliance report shows how you met your anti-money laundering and counter-terrorism financing (AML/CTF) obligations for the previous calendar year.
Our new e-learning platform is now live, hosting all of our e-learning modules in a new and improved learning management system to help you prepare for the AML/CTF reforms. We’ve also added a range of updated resources.
In October we published the AML/CTF reforms guidance. Many of you have already started reading through this new guidance to start preparing for the upcoming law changes in the new year.
This year, AUSTRAC has strengthened its efforts to protect the Australian community from financially enabled crime while expanding our mandate through regulatory reform and transformation. Partnership and cooperation remain at the heart of the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) regime. Only by working together can we reduce the harm of financial crime.
AUSTRAC has launched civil penalty proceedings in the Federal Court against two businesses – Castra Licensee Pty Ltd ACN 160 992 709 (Castra) and Princeton Securities (NSW) Pty Ltd ACN 162 219 794 (Princeton) for failing to meet their reporting obligations under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act
The Financial Action Task Force (FATF), the global group that sets international anti-money laundering, counter-terrorism financing and counter-proliferation financing (AML/CTF/CPF) standards, has published 2 recent updates relating to international money laundering, terrorism financing and proliferation financing (ML/TF/PF) risks.
AUSTRAC has issued a letter to the online payment platforms sector, warning businesses to tighten their controls to prevent payments for child sexual exploitation.
The warning comes after a supervisory campaign easily identified a number of customers suspected to be making payments for child sexual exploitation.
It’s here! We have launched a modernised AUSTRAC Online (AO) reporting platform for the businesses we regulate.
What’s new?
The updated platform provides: