Banks, remittance providers and others increased the number of reports on international funds transfers to Austrac by one third over the year to June 2012, the Australian Transactions Reports and Analysis Centre said in its annual report.
Austrac said reports increased by 18 million to 60 million last year. One reason for the increase is the wider number of entities that must report on such transfer to Austrac, including from remittance providers.
The number of reports of suspicious matters increased marginally, however.
Austrac said the number of entities now reporting...
Fewer suspicious transfers amid the Austrac deluge
16 October 2012 7:04am
Please login
You have to be logged in to read this article. Sign in below, or subscribe now for free no obligation trial.
