The Reporting Entity System Transformation (REST) Program will replace the current AUSTRAC Online interface with a modern and user-friendly platform. This will improve AUSTRAC’s ability to process the significant volumes and types of data that you and other regulated entities provide to us on a daily basis. 

What’s new

You may be using some features delivered under the Program already, including:

• a new capability enabling reporting entities to submit increased volumes of certain transaction reports (IFTI-E)
• a new IFTI-E schema enabling our entities to report in international standard format (ISO 20022).

We have also delivered internal features to support our engagement with you, including:

• a content management capability to efficiently deploy the Annual Compliance Report and collect relevant and timely information from you and other reporting entities
• a levy calculation tool to enhance industry contribution processes.

Transitioning your IFTI-E reporting to the IFTI-E v2.0 schema

For those entities still looking to transition to reporting in the ISO 20022 format using the IFTI-E v2.0 schema, we encourage you to commence testing in the AUSTRAC Online training environment as soon as possible. If you do not already have access to the IFTI-E reporting function, please email the AUSTRAC Contact Centre.

Prior to live reporting in the new functionality, entities must complete a test file assessment. Please note that the assessment process can take several weeks and timeframes can also be influenced by the number of entities undergoing testing at a particular time. We recommend you commence test file assessment as soon as you are ready to avoid potential delays.

What’s coming up

Over the coming months we will be delivering the final stage of program features, including: 

• a new AUSTRAC Online platform
• new enrolment and registration forms to provide a more user-friendly experience
• transaction reporting processes.

Would you like to participate in upcoming REST activities?

We are inviting reporting entities to provide feedback on the above program features through small interactive focus groups. 

If you would like to participate, register your interest by emailing haveyoursay@austrac.gov.au. Please ensure you specify which above program feature(s) you would like to contribute towards.

Further information

We are committed to keeping reporting entities informed. The REST team have redeveloped their approach to communication and will deliver regular, relevant updates on the outcomes that matter to you. 

For more information email haveyoursay@austrac.gov.au.