Regulation
As Australia’s AML/CTF regulator, AUSTRAC regulates more than 19,000 individuals, businesses and organisations.
We make sure they’re complying with their obligations under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) and ongoing obligations under the repealed Financial Transaction Reports Act 1988 (FTR Act). We do this to protect them and the financial sector from criminal abuse.
Our reporting entities' obligations include reporting financial transactions and suspicious activity to AUSTRAC through, for example:
- suspicious matter reports (SMRs)
- threshold transaction reports (TTRs)
- international funds transfer instructions (IFTI) reports.
Our regulatory activities also include:
- identifying new and emerging risks
- identifying and collecting data to generate regulatory insights.
- using regulatory insights and financial intelligence to assess industry vulnerabilities and threats to Australia’s financial sector
- collaborating with industry to improve risk management, help them comply, educate them on risks and compliance
- supporting national security and law enforcement operations
- taking a risk-based approach to interventions against non-compliant reporting entities
- taking enforcement action against reporting entities for serious and/or systemic breaches of the AML/CTF Act.
Our 2024 regulatory priorities
AUSTRAC’s 2024 priorities are focused on hardening the sectors we regulate against criminal misuse. By publishing our regulatory priorities, reporting entities can better understand how to identify, mitigate and manage their money laundering and terrorism financing risk.
Download AUSTRAC’s regulatory priorities 2024 (PDF, 704 KB).
How AUSTRAC works
Watch the video to find out how AUSTRAC detects, deters and disrupts organised crime in order to protect Australians from criminals and terrorists.
More information
For more information about our regulatory function please view:
This guidance sets out how we interpret the Act, along with associated Rules and regulations. Australian courts are ultimately responsible for interpreting these laws and determining if any provisions of these laws are contravened.
The examples and scenarios in this guidance are meant to help explain our interpretation of these laws. They’re not exhaustive or meant to cover every possible scenario.
This guidance provides general information and isn't a substitute for legal advice. This guidance avoids legal language wherever possible and it might include generalisations about the application of the law. Some provisions of the law referred to have exceptions or important qualifications. In most cases your particular circumstances must be taken into account when determining how the law applies to you.