The travel rule typically applies to virtual asset service, remittance service providers and financial institutions. 

It’s the season of giving, and our Education team has been busy developing a range of new resources to help you prepare for the AML/CTF reforms, including an improved e-learning experience.

Now’s the time to be preparing your business for the upcoming AML/CTF law changes. Stay ahead and keep informed with the latest material to help get you ready.

This guidance will help you determine if the travel rule applies to your business and explains the steps you must take to meet your obligations.

It’s a criminal offence to disclose certain types of information to another person, where it would or could reasonably be expected to prejudice an investigation. This is known as ‘tipping off’.

A fake AUSTRAC website has been identified. 

Scammers will often attempt to trick you into giving out your personal or business information, or to persuade you to make payments or transfer funds. To achieve this, scammers often pretend to be from trusted organisations like AUSTRAC and will seek to appear credible by using a fake website or emails with the AUSTRAC logo and branding. 

Signs of a scam

There are certain things AUSTRAC will never do. You should be suspicious of a call or email that:

This information will help you understand and implement reforms related to customer due diligence, which came into effect on 17 June 2021.

A guide for authorised deposit-taking institution (ADI) staff who complete and submit threshold transaction reports (TTRs)

These examples of dealing with suspicious customer behaviour are designed to help the online wagering industry better understand and meet anti-money laundering and counter-terrorism financing (AML/CTF) compliance obligations.

AUSTRAC has introduced a new AML/CTF Rule that will help to streamline the customer verification process for superannuation funds to make payments to their members made under the COVID-19 early release of superannuation initiative.