Helping Australian Business Owners Protect What They’ve Built.

A practical guide for Australian reporting entities  For many reporting entities, the end of the reporting period brings another important compliance obligation – the Annual Compliance Report (ACR).  While it may seem like just another form to complete, the Annual Compliance Report provides AUSTRAC with valuable information about how your organisation is managing its anti-money laundering and counter-terrorism financing (AML/CTF) obligations. More importantly, it gives your organisation an opportunity to demonstrate that compliance is being actively managed rather than simply existing on paper. What is an Annual Compliance Report?  The Annual Compliance Report is a report submitted to AUSTRAC by reporting entities that are required to lodge one. The report asks questions about the organisation’s AML/CTF compliance arrangements and the activities undertaken during the relevant reporting period. What can the report cover?  Your AML/CTF program and governance arrangements. Appointment and oversight of the AML/CTF Compliance Officer. AML/CTF risk assessment and risk management. Customer due diligence and enhanced customer due diligence. …