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Draft amendments to Chapter 11 of the AML/CTF Rules

26 October 2018

AUSTRAC has released for a four week public consultation period draft amendments to Chapter 11 of the AML/CTF Rules.

Chapter 11 specifies the reporting and lodgment periods applicable to the compliance reporting obligation in section 47 of the Anti-Money Laundering and Counter-Terrorism Financing Act (AML/CTF Act).

Registered remittance affiliates of a registered RNP will continue to be exempt from the requirement to submit a compliance report if they do not provide any other designated service. Additionally, the draft amendments to Chapter 11 exempt reporting entities who in 2018 ceased, and did not recommence, to provide a designated service.

The consultation period for these amendments is open from 25 October to 22 November 2018.

Access the draft amendments on the Draft AML/CTF Rules page.

Last modified: 26/10/2018 10:24