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News and updates

16 March 2016
RNPs – guidance on renewal of affiliates

New guidance for Remittance Network Providers on the renewal of affiliates is available in chapter 5 of the

7 March 2016
Draft AML/CTF Rules now open for consultation

AUSTRAC has published draft amendments to Chapter 38 of the AML/CTF Rules - sale of shares for charitable purposes.

27 February 2016
AML/CTF countermeasures against Iran and North Korea

Important changes have been made to Australia’s AML/CTF Regulations.

19 February 2016
Customer due diligence update

In June 2014 changes to the AML/CTF Rules impacted CDD obligations for reporting entities in relation to beneficial ownership and politically exposed persons.

12 January 2016
Remitter re-registered with conditions

Estefa Milka Honores (trading as American Cash Service), whose registration was cancelled in August 2015, has been re-registered with conditions.

12 January 2016
Two remitters have had registration suspended

Western Union affiliates Weigang Li & Dongfang Tan (trading as Empire Milk Bar) & Narinder Singh (trading as Star Link Travel) were suspended on 15 December 2015.

6 January 2016
Compliance report for 2015 now available

Lodge your report via AUSTRAC Online between 4 January 2016 – 31 March 2016.

4 January 2016
Working Group on Remittance Account Bank Closures

The Attorney-General's Department have released details of the working group and its outcomes.

7 December 2015
New methodologies brief released

Explore the financial characteristics associated with known foreign terrorist fighters and supporters.

25 November 2015
New guidance - Key terms used in 'politically exposed person' definition

AUSTRAC has published new guidance explaining the key terms used in relation to customers who are ‘politically exposed persons’ (PEPs).