Monitoring and reporting

Connect ongoing checks with reporting obligations.

After a customer relationship starts, the work shifts to watching for change and knowing when something has to be reported. This topic connects ongoing customer due diligence and transaction monitoring with the reports that AUSTRAC receives.

The report guides cover suspicious matters, threshold cash transactions, international funds transfers and the annual compliance report, with the timing and content each one involves. The guides on red flags, monitoring rules and alert review describe the internal steps that usually come before a report, and the tipping off guide explains what you can say to a customer while a review is under way.

• Ongoing CDD and transaction monitoring

  Ongoing customer due diligence connects customer information, observed activity and changes in risk.

• Suspicious matter reports

  An SMR reports a suspicion that meets the legal test. It does not establish that a customer committed a crime.

• Threshold cash transaction reports

  A threshold transaction report concerns the applicable physical-currency transaction test, rather than every payment of a large value.

• International funds transfer instruction reports

  IFTI reporting remains relevant during the transition to international value transfer service reporting.

• Tipping off and customer communications

  Tipping-off rules protect certain information where disclosure would or could reasonably be expected to prejudice an investigation.

• Annual AML/CTF compliance reports

  The annual compliance report describes how the business met its AML/CTF obligations during the relevant reporting period.

• AML red flags and indicators

  An AML red flag is information that gives a reason to examine activity. It does not by itself prove a crime.

• Transaction monitoring rules and thresholds

  A monitoring rule selects activity for review. Its threshold is a detection setting, separate from a legal reporting threshold.

• AML alert review and internal escalation

  An AML alert review examines the facts, records the decision and sends unresolved matters to the person with authority to act.