AUSTRAC has released three new risk assessments to help remittance service providers and bullion dealers understand the money laundering and terrorism financing (ML/TF) threats and vulnerabilities they face.

We’ve also released a threat update for the superannuation sector, to update the existing superannuation risk assessment and examine current threats faced by the sector.

Bullion dealers risk assessment

Criminals target bullion dealers to launder illicit funds and evade taxes, and facilitate crimes including fraud, scams and drug trafficking. Similarly to legitimate investors, criminals may use gold as a hedge against inflation, currency risk, and a store of value during economic and political uncertainty. This assessment provides you with a deep dive into the criminal threat environment and vulnerabilities facing the bullion sector, as well as their potential consequences.

Download the Bullion dealers in Australia risk assessment (PDF, 1.31MB)

Remittance risk assessments

The remittance sector (also known as ‘money transfer businesses’) plays an important role in global financial inclusion, helping transfer funds to and from areas which may not be well served by traditional banking. However, the sector can also be a target for criminals who often try and use remittance businesses to commit fraud and scams, money laundering, and other serious crimes.

These two assessments examine the risks faced by independent remittance dealers, and remittance network providers and their affiliates.

Download the Independent remittance dealers in Australia risk assessment (PDF, 2.04MB)

Download the Remittance network providers and their affiliates in Australia risk assessment (PDF, 2.12MB)

Superannuation threat update

This threat update provides the latest insights regarding ML/TF threats associated with the superannuation sector. This update builds on the superannuation sector risk assessment released in 2016 and provides a detailed overview of the current criminal threat environment facing the sector, including notable shifts and emerging risks.

Download the Australia's superannuation sector threat update (PDF, 1.31MB)

How to use these risk assessments

Use the guidance in these resources to understand your risks, refine your business’s internal controls and to understand when you may need to report suspicious matters to AUSTRAC.

For more information on SMRs and your reporting obligations, please see the suspicious matter reports page.