What's New
IFTI-DRA report generation is now available in Flash Connect. Flash automatically captures the transaction data behind your cross-border flows and generates International Funds Transfer Instruction reports under designated remittance arrangements — covering originator, beneficiary, amount, and corridor details — so the information you need to meet your AUSTRAC reporting obligations is assembled for you, formatted to an XML file, within the required timeframe.
To get IFTI-DRA reporting enabled, contact us and we’ll switch it on for your account.
How It Works
Cross-border AUD flows routed through Flash are captured at the point of instruction to generate an IFTI-DRA report in accordance with the AUSTRAC specification.
You have to review each report and, if you choose, submit it to AUSTRAC directly through Flash Connect. In that case, Flash acts as the technical submission channel on your instruction. The reporting workflow sits underneath the flow: the data is captured at source and assembled into a report.
What This Offers Clients
No build cost or maintenance. IFTI reporting requires capturing the correct data fields, formatting them to the XML file according to the AUSTRAC instructions, and submitting them by the deadline. Clients using Flash Connect don’t have to build, test, or maintain that pipeline themselves — Flash handles the generation process as part of the flow.
Accuracy and consistency. Automated capture at the point of instruction reduces manual-entry errors and missed fields, which can trigger AUSTRAC follow-ups or report rejections. The data flows straight from the transfer instruction, so what gets reported matches what actually moved.
Timeliness. IFTIs carry strict reporting deadlines. Automating the capture and report generation reduces much of the risk of late submission associated with manual processes or human oversight.
Audit trail. Every report generated through Flash Connect is captured and logged, giving you clean event records.
Flash Connect lets you focus on your business rather than diverting compliance resources to the mechanics of reporting. You route AUD through Flash, and the reporting groundwork is prepared beneath the flow for you.
Who Does What
Clients remain the reporting entity for AUSTRAC purposes. Flash provides IFTI-DRA report generation as a technical and administrative tool. It supports your reporting — it does not transfer any of your statutory, regulatory, or compliance responsibilities to Flash.
As the reporting entity, you remain responsible for:
determining whether an IFTI-DRA report is required;
reviewing and verifying each report for accuracy and completeness before submission;
ensuring each report is submitted within the required timeframe;
confirming successful lodgement, including checking any submission receipt or regulator confirmation; and
correcting and re-submitting any report where required.
Clients acting as reporting entities in their own right remain responsible for their own AUSTRAC enrolment. Flash Connect makes the reporting work lighter; it does not stand in your place before the regulator.
Interested in enabling IFTI-DRA reporting? Contact your Flash Payments account manager and we’ll switch it on for your account.