An assessment of the money laundering and terrorism financing (ML/TF) risks associated with the major banks subsector to help identify, mitigate and manage risks.
-
Download: Australia's major banks risk assessment (PDF, 2.06MB)
An assessment of the money laundering and terrorism financing (ML/TF) risks associated with the non-bank lending and financing sector to help identify, mitigate and manage risks.
This information will help you understand and implement reforms related to correspondent banking, which came into effect on 17 June 2021.
This information will help you understand and implement reforms related to customer due diligence, which came into effect on 17 June 2021.
This information will help you understand and implement reforms related to tipping off, which came into effect on 17 June 2021.
This information will help you understand and implement reforms related to reliance on customer identification and verification by a third party, which came into effect on 17 June 2021.
Organised criminals use ‘cuckoo smurfing’ as a method of laundering money to disguise and integrate their funds across borders to profit from and further enable their illegal activities.
Generally this method of money laundering relies on exploiting the bank accounts of customers expecting to receive legitimate funds. These customers are often unaware that the funds transferred into their accounts are the proceeds of crime.
To protect Australia’s financial system against exploitation, AUSTRAC’s Fintel Alliance has developed this financial crime guide on cuckoo smurfing.
ABPF explanatory guide
The ABPF explanatory guide gives you step-by-step instructions on the information you need to fill in the AUSTRAC Business Profile Form.
ABPF explanatory guide (Word, 2.27MB)
An important checklist to ensure that you have incorporated the key elements and details needed for effective SMR reporting.
A new guidance resource to assist reporting entities in submitting more effective SMRs