From 7 January 2025, solicitors are no longer regulated under the Financial Transaction Reports Act 1988 (FTR Act).
As Australia’s AML/CTF regulator, AUSTRAC regulates more than 17,000 individuals, businesses and organisations.
A remittance service provider is an individual, business or organisation that accepts instructions from customers to transfer money or pr
From 7 January 2025, motor vehicle dealers who offer customers insurance or act as insurance intermediaries are no longer regulated under
The AML/CTF Rules are part of legislation and relate to specific parts of the AML/CTF Act.
Certain cross-border movements of physical currency or bearer negotiable instruments into or out of Australia must be reported to customs or AUSTRAC.
The COVID-19 global pandemic is impacting all Australians and Australian businesses. AUSTRAC acknowledges that this is an unprecedented time for the superannuation sector.
Westpac and AUSTRAC have today agreed to a 1.3 billion dollar proposed penalty over Westpac’s breaches of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act). Westpac and AUSTRAC have agreed that the proposed penalty reflects the seriousness and magnitude of compliance failings by Westpac.