Unusual Transactions
Monitor for unusual, large or complex transactions.
Monitoring
Transaction Monitoring. Detect Suspicious Activity
Transaction monitoring requirements under AML/CTF laws. Learn how to monitor for suspicious activity and meet AUSTRAC obligations.
Why transaction monitoring matters
According to AUSTRAC, all reporting entities must have risk-based systems and controls in their transaction monitoring programs to identify and report suspicious matters. This includes monitoring for unusual, large or complex transactions or patterns of transactions.
Effective transaction monitoring helps you identify potential money laundering and submit timely suspicious matter reports.
Transaction monitoring requirements
Pattern Detection
Identify suspicious patterns of transactions.
Risk-Based Alerts
Set alerts based on your ML/TF risk assessment.
SMR Triggers
Triggers for submitting suspicious matter reports.
Frequently asked questions
What is transaction monitoring?
Transaction monitoring involves reviewing customer transactions to identify unusual, large or complex transactions that may indicate money laundering or terrorism financing.
Is transaction monitoring mandatory?
Yes. AUSTRAC requires all reporting entities to have risk-based systems and controls in their transaction monitoring programs to identify and report suspicious matters.
What should I monitor for?
Monitor for unusual transaction patterns, transactions inconsistent with customer profile, structured transactions to avoid thresholds, and transactions with high-risk jurisdictions.
Related resources
CDD supports monitoring
Good customer due diligence helps you identify unusual transactions.