Austrac releases final form of compliance reports

The Australian Transaction Reports and Analysis Centre (AUSTRAC) has issued the final forms of the first compliance report which reporting entities must complete by 31 March 2008: there are 2 forms, one for financial services and one for gambling services.

Under subsection 47(2) of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) reporting entities are required to periodically provide reports to the Australian Transaction Reports and Analysis Centre (AUSTRAC) regarding their compliance with the AML/CTF Act, regulations and AML/CTF Rules.

The report covers the period 13 December 2006 to 31 December 2007.

The compliance reports can be completed and submitted via AUSTRAC Online, an information portal which will be launched in December 2007.