AUSTRAC Regulated
Requirements set by Australia's AML/CTF regulator.
AML/CTF
Politically Exposed Person
What is a Politically Exposed Person (PEP)? Learn about PEP screening and enhanced due diligence requirements.
AUSTRAC Requirements
Politically Exposed Person is a key concept in Australia's AML/CTF framework. What is a Politically Exposed Person (PEP)? Learn about PEP screening and enhanced due diligence requirements.
According to AUSTRAC, understanding and meeting your AML/CTF obligations is essential to protect your business from misuse by criminals.
Key Compliance Elements
Risk-Based Approach
Apply measures proportionate to ML/TF risk level.
Customer Due Diligence
Know your customers before providing services.
Reporting Obligations
Submit required reports to AUSTRAC.
Frequently asked questions
What are the key requirements?
Key requirements include enrolling with AUSTRAC, developing an AML/CTF program, conducting customer due diligence, and meeting reporting obligations.
Who needs to comply?
Reporting entities providing designated services must comply. From July 2026, this expands to include real estate, legal, accounting, and precious metals sectors.
What are the penalties?
Non-compliance can result in significant civil penalties and criminal prosecution. AUSTRAC has imposed penalties exceeding $1 billion on major institutions.
Related resources
Simplify Your Compliance
ARCaml helps Australian businesses meet AUSTRAC requirements efficiently.