Australian Transaction Reports and Analysis Centre

AUSTRAC plays a dual role as both Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) regulator and its financial intelligence unit. This helps build resilience in the financial system, enabling AUSTRAC to use financial intelligence and regulation to disrupt money laundering, terrorism financing, and other serious crimes.

As the AML/CTF regulator, AUSTRAC oversees over 19,000 businesses providing financial, gambling, bullion, remittance, and digital currency exchange services. AUSTRAC ensures that these businesses comply with their obligations to implement systems and controls to manage their risks and protect themselves and the community from criminal abuse.

As a financial intelligence unit, AUSTRAC collects and analyses financial reports and information to generate intelligence that supports law enforcement and national security investigations. Their specialist analysts generate targeted, actionable intelligence and collaborate closely with industry, government and law enforcement partners to deliver tangible investigative and operational outcomes.

AUSTRAC does not directly regulate forex trading activities; this responsibility lies with the Australian Securities & Investments Commission (ASIC).

AUSTRAC ensures that regulated entities and brokers comply with their obligations under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act), as well as their ongoing obligations under the repealed Financial Transaction Reports Act 1988 (FTR Act). This protects both the entities and the financial sector from criminal abuse.

The obligations of AUSTRAC reporting entities include reporting financial transactions and suspicious activity to AUSTRAC, for example through:

- suspicious matter reports (SMRs);

- threshold transaction reports (TTRs); and

- international funds transfer instructions (IFTI) reports.

Regulatory activities also include:

- identifying new and emerging risks;

- identifying and collecting data to generate regulatory insights;

- using regulatory insights and financial intelligence to assess industry vulnerabilities and threats to Australia’s financial sector;

- collaborating with industry to improve risk management and educate on risks and compliance;

- supporting national security and law enforcement operations;

- taking a risk-based approach to interventions against non-compliant reporting entities;

- taking enforcement action against reporting entities for serious and/or systemic breaches of the AML/CTF Act.

The recommended approach before escalating an issue is to contact the broker directly to discuss finding a solution.

If the broker fails to resolve the issue or respond, you can submit a complaint to the Australian Financial Complaints Authority (AFCA), the primary independent dispute resolution body for financial disputes in Australia.

Please note that AUSTRAC does not provide a complaints service for financial service providers.

However, if you wish to make a complaint about AUSTRAC or its staff, please email complaintsaboutaustrac@austrac.gov.au with details of your complaint and any relevant information.