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ARTICLE · 23 SEPTEMBER 2008

AUSTRAC´s AML/CTF Act Reporting Implementation Policy

Norton Rose Fulbright Australia
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On 19 September 2008, AUSTRAC released a reporting implementation policy to assist reporting entities with new reporting obligations under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act).

AustraliaGovernment, Public Sector
Alison Deitz
Alison Deitz
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On 19 September 2008, AUSTRAC released a reporting implementation policy to assist reporting entities with new reporting obligations under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act). Reporting entities will need to report suspicious matters and, if applicable, threshold transactions and international funds transfer instructions to AUSTRAC, commencing from 12 December 2008.

The document is available on AUSTRAC's website at http://www.austrac.gov.au/amlctfact_reporting_implementation.html. It sets out AUSTRAC's approved methods of reporting and its policy on the processes that a reporting entity should undertake for each approved method of reporting in order to implement the relevant reporting obligations.

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