AUSTRAC has released guidance for the changes to tipping off commencing on 31 March 2025.

From 31 March 2025, it will be a criminal offence to disclose certain types of information to another person, where it would or could reasonably be expected to prejudice an investigation. This is known as ‘tipping off’.

You are not prohibited from disclosing Information to third parties under the new tipping off offence if it would not or could not reasonably be expected to prejudice an investigation.

Austrac says it does not matter whether you know or think an investigation has started. You need to consider the consequences that disclosing information could have on an investigation, if there was one now or in the future. Generally, if an investigation is complete or finalised, it is unlikely that the disclosure of Information would or could prejudice that completed investigation.

Restricted information includes:

• information that establishes you submitted a Suspicious Matter Report (SMR), or that a requirement to submit an SMR has been triggered;
• a report made or prepared for the purposes of meeting your SMR obligations, including any copies
  any document purporting to set out information contained in an SMR;
• that you are or were required to give information or produce a document in response to a notice;
• that you have given information or produced a document in response to a notice;
• Information about suspicious transaction reports.

The guidance lists situations where disclosing Information will not generally breach the tipping off offence.

If you found this article helpful, then subscribe to our news emails to keep up to date and look at our video courses for in-depth training. Use the search box at the top right of this page or the categories list on the right hand side of this page to check for other articles on the same or related matters.

Author: David Jacobson
Principal, Bright Corporate Law
Email:
About David Jacobson
The information contained in this article is not legal advice. It is not to be relied upon as a full statement of the law. You should seek professional advice for your specific needs and circumstances before acting or relying on any of the content.