AUSTRAC - Anti-Money Laundering & Counter-Terrorism Financing
AHA (NT) has been working closely with the Australian Transaction Reports and Analysis Centre (AUSTRAC) who is Australia's anti-money laundering and counter-terrorism financing (AML/CTF) regulator.
AML/CTF programs are required under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006
(AML/CTF Act) as a way to identify, mitigate and manage the risk of their products or services facilitating money laundering or terrorism financing.
Since 2010, venues or related entities with 15 or less EGMs, are still required to enrol with AUSTRAC, keep records and report suspoicious activities and threshold payments and cheques.
Venues or related entities with 16 or more machines must complete an AML/CTF risk assessment, complete a AML/CTF program for the venue & staff, undertake awareness training and maintain a range of more significant governance, compliance and reporting obligations.
The AHA (NT) has a number of resources and templates to assist you with compliance, including:
Links to website:
AUSTRAC Compliance Guide
AUSTRAC Compliance Report and Guides 2016
There are significant penalties for non-compliance. If you require any additional information, please contact the AHA office on (08) 8981 3650.