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Marco's bank receives A$10,000 by electronic transfer from his account at another Australian bank, to fund an investment. Separately, at 4 pm on Friday, Dalby Wealth's AML/CTF compliance officer suspects that a new client's funds may finance terrorism. The AML/CTF Act requires that … (i) Marco's bank give AUSTRAC a threshold transaction report for the transfer. (ii) Dalby report its suspicion to AUSTRAC by 4 pm on Saturday.
Statement (ii) is true: a suspicion that a service may be preparatory to, or relevant to, financing terrorism must be reported within 24 hours after the time it is formed (s41(1)(g)-(h) and s41(2)(b) of the AML/CTF Act 2006, compilation 1 Oct 2026), and the 24 hours run through the weekend. Statement (i) is false: a threshold transaction in s5 is a transfer of physical currency of A$10,000 or more, so an electronic transfer between Australian accounts is not one, whatever its size.
The A$10,000 threshold is about physical cash, not every transfer of that size.
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