AUSTRAC
AUSTRACAlso called australian Transaction Reports and Analysis Centre
AUSTRAC, the Australian Transaction Reports and Analysis Centre, is Australia's anti-money laundering and counter-terrorism financing regulator and its financial intelligence unit. It supervises reporting entities under the AML/CTF Act 2006, receives their transaction and suspicious matter reports and shares intelligence with law enforcement.
How it works
Businesses that provide designated services, such as banks, remitters, casinos and digital currency exchanges, enrol with AUSTRAC and run an AML/CTF programme. They file suspicious matter reports, threshold transaction reports for cash of A$10,000 or more, and international funds transfer instruction reports. AUSTRAC analyses these reports and passes intelligence to police, tax and security agencies.
AUSTRAC enforces the law through civil penalty proceedings in the Federal Court, including cases against major banks and casino operators. The 2024 amendment act rebuilt the regime. Reforms took effect for existing reporting entities on 31 March 2026, and lawyers, accountants, real estate agents and dealers in precious stones came into scope from 1 July 2026.
The rules
Sets AML/CTF programme, customer due diligence, reporting and record keeping duties, and AUSTRAC's supervisory and enforcement powers.
Businesses providing designated services in AustraliaSimplifies programme obligations, updates virtual asset and transfer rules, and extends the regime to tranche 2 professions.
Existing reporting entities and newly regulated professionsSchedules 1 to 3 of the 2024 amendment act commence on 31 March 2026, and Schedule 4 on 1 July 2026, bringing in tranche 2 entities.
Current reporting entitiesCommon questions
What reports do firms send to AUSTRAC?
Reporting entities send suspicious matter reports, threshold transaction reports for physical cash of A$10,000 or more, and international funds transfer instruction reports. They also lodge an annual compliance report. AUSTRAC uses the data for intelligence it shares with law enforcement and partner agencies.
What is tranche 2?
Tranche 2 refers to businesses brought into Australia's AML/CTF regime by the 2024 reforms. They include lawyers, accountants, real estate professionals, trust and company service providers, and dealers in precious metals and stones. Their obligations started on 1 July 2026.
Is AUSTRAC a regulator or a financial intelligence unit?
It is both. AUSTRAC regulates reporting entities for compliance with AML/CTF law, with power to bring civil penalty proceedings. It is also Australia's financial intelligence unit, analysing financial reports and sharing intelligence with domestic and international partners.
How does AUSTRAC enforce the law?
AUSTRAC brings civil penalty proceedings in the Federal Court against reporting entities that breach the AML/CTF Act. Its cases have involved major banks, including Westpac and Commonwealth Bank, and casino operators, over failures in reporting and transaction monitoring.
