I have received a letter from AUSTRAC titled 'FAILURE TO COMPLY WITH LEGAL OBLIGATIONS'. What steps do I need to take now?
AUSTRAC has identified that due to the nature of the products/services you provide, your business may have legal obligations under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) and as a reporting entity you were required to submit an AML/CTF compliance report to AUSTRAC by 31 March 2008.
Your next step is either to lodge an AML/CTF compliance report immediately (see the AML/CTF compliance reports web page for more information), or if you believe you are not a reporting entity or have no reporting obligations, you can advise AUSTRAC by completing the 'compliance report response form'.
Enquiries can be directed to the AUSTRAC Help Desk at help_desk@austrac.gov.au or phone 1300 021 037 (a local call within Australia).
13-MAY-2008
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