AUSTRAC has created an online information portal called 'AUSTRAC Online' to assist reporting entities regulated under the AML/CTF Act to meet their new obligations. AUSTRAC Online allows entities to keep company information up-to-date, streamlines and automates the introduction of new reporting entities, facilitates the collection of AML/CTF compliance reports and generally provides stakeholders with a simple and efficient means to access the latest information on AML/CTF matters.

AUSTRAC Online:

• will help to reduce the regulatory burden on industry
• assists AUSTRAC to support industry by facilitating a better understanding of the reporting population
• provides a secure interface that will protect confidential information
• allows regulated entities to view and maintain their own data
• provides a system that allows for the creation of a dynamic AML/CTF compliance report.

AUSTRAC Online can be accessed at www.austrac.gov.au/online. Entities unable to access AUSTRAC Online can contact the AUSTRAC Help Desk on 1300 021 037.

Are you part of a designated business group?

Designated business groups (DBGs) allow reporting entities to share certain obligations under the AML/CTF Act where the election to form the DBG is in accordance with the requirements of the AML/CTF Act and AML/CTF Rules.

Where you have formed a DBG you must notify AUSTRAC of the election using the approved forms in the AML/CTF Rules. The forms can be found in chapter 2 of Anti-Money Laundering and Counter-Terrorism Financing Rules Instrument 2007 (No. 1) at www.austrac.gov.au.

To finalise the administrative aspects of a DBG election, AUSTRAC will also require all current details of the individual reporting entities seeking to form part of that DBG.

Should you report to AUSTRAC electronically?

You may be required to report to AUSTRAC electronically. Effective from 1 January 2008, AUSTRAC has changed the approved manner of sending financial transaction reports (FTRs) and AML/CTF compliance reports to AUSTRAC. The current AUSTRAC Reporting Policy is available on the AUSTRAC website.

To report electronically, AUSTRAC provides the Electronic Data Delivery System Web version (EDDSWeb). This is a secure internet service provided by AUSTRAC for the submission and collection of FTRs. EDDSWeb can be accessed via AUSTRAC Online at www.austrac.gov.au/online or at eddsw.austrac.gov.au.

Note that AML/CTF compliance reports may only be submitted via AUSTRAC Online, or in certain circumstances, manually.

Have you completed the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 Self Assessment Questionnaire?

AUSTRAC has developed a Self Assessment Questionnaire (SAQ) to help reporting entities to understand, self-assess and monitor their progress in meeting AML/CTF requirements. The SAQ can be found in Appendix I. Completion of the SAQ is suggested but not mandatory.

Are you aware of AUSTRAC's online education resources?

AUSTRAC is supporting the implementation of the AML/CTF Act through expanding our website to provide open access to e-learning courses, industry-specific materials and links to useful references.

The 'Introduction to AML/CTF' e-learning course provides an introductory overview that explains the threat of money laundering and terrorism financing and the obligations of regulated entities under the AML/CTF Act and FTR Act. This e-learning course is the first offering of a growing library of online materials that can be accessed from AUSTRAC's website at www.austrac.gov.au/education.html.

Did you know AUSTRAC has a Help Desk?

AUSTRAC provides a Help Desk between the hours of 8.30am and 5.00pm (Eastern Standard Time), Monday to Friday. Enquiries may also be faxed to 02 9950 0071 or mailed to:

AUSTRAC Help Desk
PO Box 5516
West Chatswood   NSW 1515

Ph: 1300 021 037 (a local call within Australia) or 02 9950 0827
Email: help_desk@austrac.gov.au