It has been an exciting time for the Reporting Entity System Transformation (REST) program.

After months of consultation and hard work from both AUSTRAC staff and our reporting entities, we have successfully delivered substantial system enhancements within AUSTRAC Online. This has enabled reporting entities with IFTI-E reporting obligations to begin submitting their IFTI-E transaction reports through new XML file upload functionality and in an ISO 20022 format.

AUSTRAC would like to thank all reporting entities involved in this project for their proactive engagement and support during this significant transition.

What’s next for AUSTRAC Online?

Changes to transaction reports

Over the next six to 12 months, we will be seeking feedback and updating our transaction report content and designs for:

• threshold transaction reporting (TTRs) and
• suspicious matter reports (SMRs).

These updates will deliver contemporary reports that align reporting requirements across different industries. This will streamline and simplify your reporting submission processes.

Refreshed user interface design

Over the next few months we are also redesigning the look and feel of AUSTRAC Online’s user interface, including navigation and menu options. If you have been involved in the process so far, we thank you for your valuable feedback and look forward to further engagement on design and functionality.

We want your feedback

We are continually consulting with reporting entities to learn what you want to see as we transition to the new AUSTRAC Online over the next four years.

To ensure we build a system that is fit for purpose and meets your needs, we rely on your participation. We encourage you to get involved in upcoming consultation by joining the REST Customer Advisory Group. Upcoming consultation topics can be found on our REST program page.

We will soon be seeking your feedback on single and multiple data entry and spreadsheet reporting. To find out how you can be involved, or to join the CAG, email haveyoursay@austrac.gov.au.