Australian Anti Money Laundering and Counter Terrorism Financing Act 2006
This download includes the Australian Anti Money Laundering and Counter Terrorism Financing Act 2006 only so there are no mapped questions. Use this download if you just want the provisions and you want to create your own question set.
The Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) is the main piece of Australian government legislation that regulates AUSTRAC’s functions.
If you provide one or more designated services as prescribed in the AML/CTF Act, you must enroll with AUSTRAC and comply with the obligations set out in the AML/CTF Act. You must also register with AUSTRAC if the designated service you provide includes remittance service or digital currency exchange service:
Once you have enrolled with AUSTRAC, we provide detailed guidance to help you comply with your obligations relating to:
Other AUSTRAC legislation:
The AML/CTF Rules supplement the AML/CTF Act by providing more detailed information in relation to specific requirements under the AML/CTF Act.
The Financial Transaction Reports Act (FTR Act) is another legislation relevant to AUSTRAC. Although the FTR Act has mostly been replaced by the AML/CTF Act, some business entities and professions, such as motor vehicle dealers who act as insurers or insurance intermediaries and solicitors, still have obligations under the FTR Act.
The Industry Contribution Acts cover the requirements of the annual industry contribution levy that certain reporting entities have to pay to cover AUSTRAC’s operating costs.
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