Appointing a Compliance Officer

What is a Compliance Officer?

A Compliance Officer is the person in your agency responsible for your AML/CTF program. They oversee day-to-day compliance, handle suspicious matter escalations, and make sure your procedures are followed and kept up to date.

Why AUSTRAC requires one

The AML/CTF Act requires every reporting entity to appoint a Compliance Officer at senior management level. This is a legal obligation — it cannot be delegated to software or a junior staff member.

You must notify AUSTRAC of your Compliance Officer’s name by 29 July 2026.

Who can take the role?

The role must be held by someone at senior management level. In most agencies, this is:

• The principal or director
• The licensee-in-charge
• A senior manager with authority over compliance decisions

There is no formal certification required, but the person must understand the agency’s operations and be capable of making judgment calls on suspicious activity. In small agencies, the principal commonly takes on the role.

What the role involves day to day

Your Compliance Officer is responsible for:

• Overseeing the AML/CTF program and keeping it current
• Ensuring staff are trained and following procedures
• Reviewing suspicious matter escalations and deciding whether to file an SMR with AUSTRAC
• Signing off on the annual compliance report
• Being the main point of contact for AUSTRAC enquiries

How to record your Compliance Officer in AML Simple

1. Go to Settings in the left navigation
2. Select Compliance Officer
3. Enter their full name, job title, and contact details
4. Select Save

Their details will appear on your program document and compliance dashboard. You can update this at any time if the role changes hands.