Proposed amendment to Chapter 11 of the AML/CTF Rules (Compliance Report – reporting and lodgment periods)
AUSTRAC has released proposed amendments to Chapter 11 of the AML/CTF Rules for public consultation.
The proposed amendments remove references to the 2018 reporting and lodgment periods and sets those periods for 2019 and each successive year. The amendments also make minor drafting changes to simplify the expression of the circumstances in which registered remittance affiliates are exempted from the compliance reporting obligations.
The consultation period for these amendments is open from 15 October 2019 to 12 November 2019