Australian Transaction Reports and Analysis Centre (AUSTRAC) investigations and enforcement
by Tom O'Callaghan, Principal Solicitor, 360Certainty Legal with assistance from Practical Law Competition and Regulation
This note provides an overview of the investigation and enforcement options available to the Australian Transaction Reports and Analysis Centre (AUSTRAC) in relation to non-compliance by reporting entities with their obligations under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) (AMLCTFA). It includes examples of investigations and enforcement actions taken by AUSTRAC in its regulation of the AMLCTFA.
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