What is a Suspicious Matter Report (Australia)?
A report to AUSTRAC under section 41 of the AML/CTF Act lodged when a reporting entity forms a suspicion on reasonable grounds that information may be relevant to investigation of a possible offence, or that the customer is not who they claim to be, or that the matter relates to terrorism financing, money laundering, or proceeds of crime. SMRs must be lodged within 3 business days for most matters and within 24 hours for terrorism-financing suspicions.