Suspicious matter, threshold, and IFTI reporting to AUSTRAC
Lodge SMRs, TTRs ($10K+ cash), and IFTI reports via AUSTRAC Online.
Who must comply
All AUSTRAC reporting entities.
What triggers it
Forming a suspicion (SMR), $10K+ cash transaction (TTR), or instructing/receiving an international funds transfer (IFTI).
When due
SMR: 3 business days (24h terrorism). TTR & IFTI: 10 business days.
Evidence required
AUSTRAC Online submission receipts, transaction records, suspicion-formation file note.
Max penalty
Up to 2 years imprisonment for criminal tipping-off; civil penalties up to $33M
Summary
Reporting entities must lodge: Suspicious Matter Reports (SMRs) within 3 business days of forming a suspicion (24 hours for terrorism financing), Threshold Transaction Reports (TTRs) within 10 business days for cash transactions ≥AUD 10,000, and International Funds Transfer Instruction (IFTI) reports within 10 business days. Reports are filed via AUSTRAC Online using XML-conformant uploads.
Enforced by
Source legislation
Topics
Source: https://austrac.gov.au/business/how-comply-and-report-guidance-and-resources/reporting. Rules Mate is not a law firm. Always verify against the live regulator source before acting.