ANTI-MONEY LAUNDERING AND COUNTER-TERRORISM FINANCING ACT 2006 - SECT 40 Simplified outline
ANTI-MONEY LAUNDERING AND COUNTER-TERRORISM FINANCING ACT 2006 - SECT 40
Simplified outlineThe following is a simplified outline of this Part:
• A reporting entity must give the AUSTRAC CEO reports about suspicious matters.
• If a reporting entity provides a designated service that involves a threshold transaction, the reporting entity must give the AUSTRAC CEO a report about the transaction.
• If a person sends or receives an international funds transfer instruction, the person must give the AUSTRAC CEO a report about the instruction.
• A reporting entity may be required to give AML/CTF compliance reports to the AUSTRAC CEO.