Free guide
SMR and TTR, made clear.
When you need to report to AUSTRAC, what to include, and how long you have.
Deadlines
How long you have.
| Report | Deadline |
|---|---|
| SMR, terrorism financing | Within 24 hours of forming the suspicion |
| SMR, all other matters | Within 3 business days of forming the suspicion |
| TTR, physical cash of $10,000 or more | Within 10 business days of the transaction |
Suspicious matter report (SMR)
Lodge an SMR if you suspect, on reasonable grounds, that a customer or transaction may be linked to money laundering, terrorism financing, tax evasion or other crime. You don't need proof, and you can lodge one even if you decide not to go ahead with the customer.
Threshold transaction report (TTR)
Lodge a TTR when you receive or pay physical cash (notes and coins) of $10,000 or more, or the foreign currency equivalent, in a single transaction. Bank transfers don't need a TTR.
What to include in an SMR
- Who the customer is, and anyone else involved
- What happened, when, and the amounts
- Why it seemed suspicious, in plain words
- What checks you did and what you found
- Any documents or references that support it
Common red flags
- Customer avoids giving ID or gives inconsistent details
- Payments from unrelated third parties
- Cash amounts just under $10,000 (possible structuring)
- Deals that don't fit the customer's profile
- Pressure to rush without a clear reason
Don't tip off
You must not tell the customer, or anyone who doesn't need to know, that you have lodged or may lodge an SMR. Keep handling the customer normally unless your compliance officer says otherwise.
How to lodge
Reports are lodged through AUSTRAC Online once your business is enrolled. Keep a copy and your notes for seven years.
General information only, not legal advice.
This tool gives general information to help you get started. It is not legal advice, has not been reviewed or approved by AUSTRAC, and using it does not by itself meet your AML/CTF obligations. Check AUSTRAC guidance and speak with a qualified adviser about your business.