AUSTRAC's online overhaul: the suggestion box is now open
Updated: Oct 4, 2021
Registered digital currency exchanges (DCEs) often need to report to and interact with AUSTRAC, and no doubt have formed some views as to what could be done differently or better. AUSTRAC is now giving everyone a chance to provide feedback and use it to improve (over the next 4 years).
AUSTRAC is undertaking a systems transformation program over the next 4 years which will replace AUSTRAC Online. We recently noted that the much loved/hated AUSTRAC Business Profile Form has been replaced with a web-based form (which is a great step in the right direction).
The new system is intended to be user-friendly with improved reporting capability and self-service options.
AUSTRAC is currently in the discovery phase of their improvement program and are focused on understanding from regulated entities how they can change, do better, or do things differently – to make it easier for those entities to engage and report to AUSTRAC, and meet AML/CTF obligations.
They want to hear about any system or reporting issues you think can be improved. For example, do you have any feedback on how you report suspicious matters or do you have ideas for greater automation?
If you would like to be involved, email firstname.lastname@example.org with your feedback and your contact details. If you would like to have your AML Program reviewed or consider how you manage reporting as part of giving this feedback, we can also help with that.