AUSTRAC Seeks Input to Develop New Reporting Systems

Input is sought as part of a discovery phase of a four-year systems transformation programme to replace ‘AUSTRAC Online’.

AUSTRAC says it will be undertaking a systems transformation programme over the next four years to replace ‘AUSTRAC Online’ and transform the way regulated businesses interact and report to the regulator.

“The new system will be modern and user-friendly, with improved reporting capability and self-service options to help you meet your regulatory obligations,” AUSTRAC said in a statement.

To ensure that the programme delivers on industry needs, AUSTRAC is seeking input from regulated businesses, initially as part of a “discovery phase” of the programme.

“This means we are focused on understanding what we can change, do better, or do differently – to make it easier for you to engage and report to AUSTRAC, and meet your AML/CTF obligations.”

AUSTRAC asks reporting entities to submit comments by email on any system or reporting issues that can be improved to help it develop its new systems.

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