On 31 August, ACAMS reported that, following the report, Australia’s FIU is tackling the depth, accuracy and timeliness of reports tied to suspicious activity, with a programme designed to update and upgrade how the country’s financial sector files suspicious matter reports (SMR).  It is said that the efforts could put some banks in the spotlight as the accuracy, adequacy and depth of filed reports could come under greater scrutiny – along with the rigor of underlying risk ranking, investigation and filing procedures.

Any modest contributions for my time and ongoing expenses are welcomed!  I have a page where you can do so, and where one-off contributions start as low as $3, at

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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