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Publications / Financial Services

18 Feb 11
AML/CTF compliance reports due 31 March 2011

Managed investment schemes

The lodgement period for 2010 AML/CTF compliance reports closes on 31 March 2011. If you are a ‘reporting entity’ which provided ‘designated services’ during any part of 2010, you will be required to submit an AML/CTF compliance report to AUSTRAC.

AML/CTF compliance reports can be lodged online at www.austrac.gov.au. Civil penalties may apply for failure to lodge a compliance report by the due date.

Before you lodge your AML/CTF compliance report, you should review whether your AML/CTF program requires you to conduct an internal or external review of the reporting entity’s compliance with the AML/CTF Act, AML/CTF Rules and its AML/CTF program.

If an independent external review is required, McCullough Robertson are well placed to assist reporting entities with this process.

Financial advisers

The lodgement period for 2010 AML/CTF compliance reports closes on 31 March 2011. If you are a ‘reporting entity’ which provided ‘designated services’ during any part of last year, you will be required to submit an AML/CTF compliance report to AUSTRAC.

AML/CTF compliance reports can be lodged online at www.austrac.gov.au.

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