New Sector-Specific Lists Of Suspicious Activity Indicators Published By AUSTRAC – Digital Currency (Cryptocurrency)

AUSTRAC has recently published new lists of suspicious activity indicators that are sector-specific, to assist reporting entities to identify potential money laundering ("ML"), terrorism financing ("TF") and other serious and organised criminal activity.

This article provides a summary of the new indicators for the digital currency (cryptocurrency) sector. These indicators are relevant to the following reporting entities:

• Digital currency exchange providers; and
• Other crypto assets secondary services providers that are required to be enrolled or registered with AUSTRAC.

What do you need to do?

We have included below a summary of the suspicious activity indicators that entities which provide designated services in relation to cryptocurrency should be alert to. If any of these indicators are identified by your entity, you must consider lodging a suspicious matter report with AUSTRAC within the appropriate timeframe: