The 2010 AML/CTF compliance report for AML/CTF reporting entities must be lodged by 31 March 2011.

The 2010 AML/CTF compliance report covers the period from 1 January 2010 to 31 December 2010. The responses you provide in your AML/CTF compliance report should relate to your business activities during this reporting period.

The questions include whether you have procedures for an independent review of your AML/CTF program and whether an independent review was conducted by an external party or an internal party. Bright Law can assist you with an independent AML/CTF compliance program review.

UPDATE 17 January 2011:
AUSTRAC has announced that it will not commence enforcement action for failure to lodge a 2010 compliance report by 31 March 2011 if the reporting entity is based in a region that was adversely affected as a direct result of the November 2010-January 2011 Floods and does not lodge a report by 31 March 2011 because that reporting entity was adversely affected as a direct result of the Floods and lodges the report with AUSTRAC by 30 June 2011.