Top official Brad Brown discusses AUSTRAC’s ongoing work to upgrade its reporting system and further advance Australia’s AML/CTF system.
January 9, 2023AUSTRAC has updated its 2019 indicators report to help FIs identify behaviours and transactions which may indicate payments for child sexual exploitation material.
December 19, 2022Super funds are exposed to cyber crime, as well as AML risks resulting from the growth in merger activity across the sector.
September 28, 2022Most remittance dealers and remittance network providers did not submit any SMRs in the reporting period assessed by AUSTRAC.
September 28, 2022Personal income tax evasion was the most common suspected offence, linked to 52% of SMRs, though the associated values were low.
September 27, 2022Financial services businesses are asked to use the indicators in the guides in transaction monitoring to detect potential illicit activity and file SMRs.
April 21, 2022The IFTI-E schema version 2.0 will be finalised in the next few months. This will be used to enable the upload of IFTI-E reports through a new API and user interface.
April 13, 2022An external auditor has to be appointed to examine AML compliance at three entities within the Bell Financial Group.
February 17, 2022Nathan Newman says regulated entities are uplifting their AML capabilities but could do more to apply appropriate assurance to their upgrades.
February 11, 2022Reporting mistakes have included incorrectly-used fields, late filings, inconsistent data input, and defensive reporting.
September 7, 2021