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Despite offers by Australia Post and representations by POAAL, AUSTRAC has decided that Licensees will need to complete compliance reports. AUSTRAC has advised POAAL that Licensees will be circulated with information and forms, and that Australia Post will also be communicating with Licensees prior to the AUSTRAC material being sent out. Some Licensees may find all this paperwork a bit daunting, and if so please don't hesitate to get clarification from AUSTRAC.It will mean extra work for some Licensees, which could be successfully and efficiently performed by AP's reporting processes. We will continue to monitor the situation and point out to the Government that the work can be performed by AP.
