{"id":"tas:act-1993-016","name":"Financial Transaction Reports Act 1993","slug":"financial-transaction-reports-act-1993","collection":"act","jurisdiction":"tas","status":"in_force","isInForce":true,"actNumber":"16 of 1993","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":106243,"registerId":"tas-act-1993-016-current","compilationNumber":null,"startDate":"2026-04-03","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Short title","content":"### 1 Short title\n\n> This Act may be cited as the [Financial Transaction Reports Act 1993](/view/html/inforce/2026-04-12/act-1993-016) .","sortOrder":0},{"sectionNumber":"2","sectionType":"section","heading":"Commencement","content":"### 2 Commencement\n\n> This Act commences on a day to be proclaimed.","sortOrder":1},{"sectionNumber":"3","sectionType":"section","heading":"Object of Act","content":"### 3 Object of Act\n\n> The object of this Act is to facilitate the enforcement of the laws of the State.","sortOrder":2},{"sectionNumber":"4","sectionType":"section","heading":"Interpretation","content":"### 4 Interpretation\n\n> > (1)  In this Act –[*\\[Section 4 Subsection (1) amended by No. 61 of 2013, s. 5, Applied:01 Mar 2014\\]*](/view/html/inforce/2014-03-01/act-2013-061#GS5@Hpa@EN)\n> > \n> > > [*\\[Section 4 Subsection (1) amended by No. 61 of 2013, s. 5, Applied:01 Mar 2014\\]*](/view/html/inforce/2014-03-01/act-2013-061#GS5@Hpa@EN) ***AMLCTF Act*** means the *Anti-Money Laundering and Counter-Terrorism Financing Act 2006* of the Commonwealth;\n> > \n> > > ***court*** includes any tribunal, authority or person having power to require the production of documents or the answering of questions;\n> > \n> > > [*\\[Section 4 Subsection (1) amended by No. 61 of 2013, s. 5, Applied:01 Mar 2014\\]*](/view/html/inforce/2014-03-01/act-2013-061#GS5@Hpb@EN) ***designated authority*** means –\n> > > \n> > > > > (a) the Commissioner of Police; or\n> > > > \n> > > > > (b) a police officer who is carrying out an investigation arising from, or relating to matters referred to in, information communicated to the AUSTRAC CEO;\n> > \n> > > [*\\[Section 4 Subsection (1) amended by No. 61 of 2013, s. 5, Applied:01 Mar 2014\\]*](/view/html/inforce/2014-03-01/act-2013-061#GS5@Hpb@EN) ***FTR Act*** means the *Financial Transaction Reports Act 1988* of the Commonwealth;\n> > \n> > > ***protected information*** means information that is obtained under this Act.\n> \n> > (2)  [*\\[Section 4 Subsection (2) amended by No. 61 of 2013, s. 5, Applied:01 Mar 2014\\]*](/view/html/inforce/2014-03-01/act-2013-061#GS5@Hpc@EN) Unless the contrary intention appears, expressions used in the FTR Act or the AMLCTF Act have the same respective meanings in this Act.","sortOrder":3},{"sectionNumber":"5","sectionType":"section","heading":"Act binds Crown","content":"### 5 Act binds Crown\n\n> This Act binds the Crown in right of Tasmania and, so far as the legislative power of Parliament permits, in all its other capacities.","sortOrder":4},{"sectionNumber":"6","sectionType":"section","heading":"Further information about matters reported by cash dealers under FTR Act","content":"### 6 Further information about matters reported by cash dealers under FTR Act\n\n> > (1)  [*\\[Section 6 Subsection (1) substituted by No. 61 of 2013, s. 6, Applied:01 Mar 2014\\]*](/view/html/inforce/2014-03-01/act-2013-061#GS6@Hpa@EN) This section applies if a cash dealer communicates information to the AUSTRAC CEO under section 16(1) or (1A) of the FTR Act.\n> \n> > (1A)  [*\\[Section 6 Subsection (1A) inserted by No. 61 of 2013, s. 6, Applied:01 Mar 2014\\]*](/view/html/inforce/2014-03-01/act-2013-061#GS6@Hpa@EN) A designated authority may request the cash dealer to give to the designated authority the further information stated in the request.\n> \n> > (2)  [*\\[Section 6 Subsection (2) amended by No. 61 of 2013, s. 6, Applied:01 Mar 2014\\]*](/view/html/inforce/2014-03-01/act-2013-061#GS6@Hpb@EN) The further information must be information that–\n> > \n> > > > (a) may be relevant to the investigation of, or prosecution of a person for, an offence against the law of the State; or\n> > > \n> > > > (b) may be of assistance in the enforcement of the [Crime (Confiscation of Profits) Act 1993](/view/html/inforce/2026-04-12/act-1993-020) .\n> \n> > (3)  The cash dealer must comply with the request to the extent that the cash dealer has the further information.\n> > \n> > Penalty:  Fine not exceeding 400 penalty units or imprisonment for a term not exceeding 2 years, or both.","sortOrder":5},{"sectionNumber":"6A","sectionType":"section","heading":"Further information or documents about matters reported by reporting entities under AMLCTF Act","content":"### 6A Further information or documents about matters reported by reporting entities under AMLCTF Act\n\n> [*\\[Section 6A Inserted by No. 61 of 2013, s. 7, Applied:01 Mar 2014\\]*](/view/html/inforce/2014-03-01/act-2013-061#GS7@EN)\n> \n> > (1)  This section applies if a reporting entity communicates information to the AUSTRAC CEO under section 41, 43 or 45 of the AMLCTF Act.\n> \n> > (2)  A designated authority may give a written notice to the reporting entity requesting the reporting entity, within the period and in the way stated in the notice, to –\n> > \n> > > > (a) give to the designated authority the further information stated in the notice; or\n> > > \n> > > > (b) produce to the designated authority the documents about the matter to which the communication under section 41, 43 or 45 of the AMLCTF Act relates that are stated in the notice.\n> \n> > (3)  The further information or documents must be information or documents that –\n> > \n> > > > (a) may be relevant to the investigation of, or prosecution of a person for, an offence against the law of the State; or\n> > > \n> > > > (b) may be of assistance in the enforcement of the [Crime (Confiscation of Profits) Act 1993](/view/html/inforce/2026-04-12/act-1993-020) .\n> \n> > (4)  The reporting entity must comply with the request to the extent that the reporting entity has the further information or documents.\n> > \n> > Penalty:  Fine not exceeding 400 penalty units or imprisonment for a term not exceeding 2 years, or both.","sortOrder":6},{"sectionNumber":"7","sectionType":"section","heading":"Reports by cash dealers of suspect transactions not reported under FTR or AMLCTF Act","content":"### 7 Reports by cash dealers of suspect transactions not reported under FTR or AMLCTF Act\n\n> > (1)  [*\\[Section 7 Subsection (1) substituted by No. 61 of 2013, s. 8, Applied:01 Mar 2014\\]*](/view/html/inforce/2014-03-01/act-2013-061#GS8@Hpa@EN) This section applies if –\n> > \n> > > > (a) a cash dealer is a party to a transaction; and\n> > > \n> > > > (b) the cash dealer has reasonable grounds to suspect that information that the cash dealer has concerning the transaction –\n> > > > \n> > > > > > (i) may be relevant to the investigation of, or prosecution of a person for, an offence against the law of the State; or\n> > > > > \n> > > > > > (ii) may be of assistance in the enforcement of the [Crime (Confiscation of Profits) Act 1993](/view/html/inforce/2026-04-12/act-1993-020) ; and\n> > > \n> > > > (c) the cash dealer is not required to report the transaction under any of the following provisions, whether or not the cash dealer is required to report the transaction under Division 1 of Part II of the FTR Act:\n> > > > \n> > > > > > (i) Division 2 of Part II of the FTR Act;\n> > > > > \n> > > > > > (ii) if the cash dealer is a reporting entity – Division 2, 3 or 4 of Part 3 of the AMLCTF Act.\n> \n> > (2)  [*\\[Section 7 Subsection (2) substituted by No. 61 of 2013, s. 8, Applied:01 Mar 2014\\]*](/view/html/inforce/2014-03-01/act-2013-061#GS8@Hpa@EN) The cash dealer must, as soon as practicable after forming the suspicion mentioned in subsection (1)(b), prepare a report of the transaction and communicate the information contained in it to the AUSTRAC CEO.\n> > \n> > Penalty:  Fine not exceeding 400 penalty units or imprisonment for a term not exceeding 2 years, or both.\n> \n> > (3)  The report must –\n> > \n> > > > (a) [*\\[Section 7 Subsection (3) amended by No. 61 of 2013, s. 8, Applied:01 Mar 2014\\]*](/view/html/inforce/2014-03-01/act-2013-061#GS8@Hpb@EN) be in the form approved by the AUSTRAC CEO for the purposes of section 41 of the AMLCTF Act; and\n> > > \n> > > > (b) [*\\[Section 7 Subsection (3) amended by No. 61 of 2013, s. 8, Applied:01 Mar 2014\\]*](/view/html/inforce/2014-03-01/act-2013-061#GS8@Hpc@EN) contain the reportable details of the transaction as required under the AML/CTF Rules for the purposes of that section; and\n> > > \n> > > > (c) [*\\[Section 7 Subsection (3) amended by No. 61 of 2013, s. 8, Applied:01 Mar 2014\\]*](/view/html/inforce/2014-03-01/act-2013-061#GS8@Hpd@EN) contain a statement of the grounds on which the cash dealer holds the suspicion mentioned in [subsection (1)(b)](#GS7@Gs1@Hpb@EN) ; and\n> > > \n> > > > (d) be signed by the cash dealer.\n> \n> > (4)  [*\\[Section 7 Subsection (4) amended by No. 61 of 2013, s. 8, Applied:01 Mar 2014\\]*](/view/html/inforce/2014-03-01/act-2013-061#GS8@Hpe@EN) The communication to the AUSTRAC CEO of the information contained in the report must be made–\n> > \n> > > > (a) [*\\[Section 7 Subsection (4) amended by No. 61 of 2013, s. 8, Applied:01 Mar 2014\\]*](/view/html/inforce/2014-03-01/act-2013-061#GS8@Hpf@EN) by giving the AUSTRAC CEO a copy of the report; or\n> > > \n> > > > (b) [*\\[Section 7 Subsection (4) amended by No. 61 of 2013, s. 8, Applied:01 Mar 2014\\]*](/view/html/inforce/2014-03-01/act-2013-061#GS8@Hpg@EN) in any other way approved by the AUSTRAC CEO.\n> \n> > (5)  [*\\[Section 7 Subsection (5) omitted by No. 61 of 2013, s. 8, Applied:01 Mar 2014\\]*](/view/html/inforce/2014-03-01/act-2013-061#GS8@Hph@EN) .  .  .  .  .  .  .  .  \n> \n> > (6)  [*\\[Section 7 Subsection (6) omitted by No. 61 of 2013, s. 8, Applied:01 Mar 2014\\]*](/view/html/inforce/2014-03-01/act-2013-061#GS8@Hph@EN) .  .  .  .  .  .  .  .  \n> \n> > (7)  [*\\[Section 7 Subsection (7) omitted by No. 61 of 2013, s. 8, Applied:01 Mar 2014\\]*](/view/html/inforce/2014-03-01/act-2013-061#GS8@Hph@EN) .  .  .  .  .  .  .  .  \n> \n> > (8)  [*\\[Section 7 Subsection (8) omitted by No. 61 of 2013, s. 8, Applied:01 Mar 2014\\]*](/view/html/inforce/2014-03-01/act-2013-061#GS8@Hph@EN) .  .  .  .  .  .  .  .  \n> \n> > (9)  [*\\[Section 7 Subsection (9) omitted by No. 61 of 2013, s. 8, Applied:01 Mar 2014\\]*](/view/html/inforce/2014-03-01/act-2013-061#GS8@Hph@EN) .  .  .  .  .  .  .  .","sortOrder":7},{"sectionNumber":"7A","sectionType":"section","heading":"Further information about suspect transactions not reported under FTR Act or AMLCTF Act","content":"### 7A Further information about suspect transactions not reported under FTR Act or AMLCTF Act\n\n> [*\\[Section 7A Inserted by No. 61 of 2013, s. 9, Applied:01 Mar 2014\\]*](/view/html/inforce/2014-03-01/act-2013-061#GS9@EN)\n> \n> > (1)  This section applies if a cash dealer communicates information to the AUSTRAC CEO under [section 7(2)](#GS7@Gs2@EN) .\n> \n> > (2)  A designated authority may request the cash dealer to give to the designated authority the further information stated in the request.\n> \n> > (3)  The further information must be information that –\n> > \n> > > > (a) may be relevant to the investigation of, or prosecution of a person for, an offence against the law of the State; or\n> > > \n> > > > (b) may be of assistance in the enforcement of the [Crime (Confiscation of Profits) Act 1993](/view/html/inforce/2026-04-12/act-1993-020) .\n> \n> > (4)  The cash dealer must comply with the request to the extent that the cash dealer has the further information.\n> > \n> > Penalty:  Fine not exceeding 400 penalty units or imprisonment for a term not exceeding 2 years, or both.","sortOrder":8},{"sectionNumber":"8","sectionType":"section","heading":"Protection of cash dealers, reporting entities, &c.","content":"### 8 Protection of cash dealers, reporting entities, &c.\n\n> > (1)  An action or a suit or proceeding does not lie against –\n> > \n> > > > (a) [*\\[Section 8 Subsection (1) amended by No. 61 of 2013, s. 10, Applied:01 Mar 2014\\]*](/view/html/inforce/2014-03-01/act-2013-061#GS10@Hpb@EN) [*\\[Section 8 Subsection (1) amended by No. 61 of 2013, s. 10, Applied:01 Mar 2014\\]*](/view/html/inforce/2014-03-01/act-2013-061#GS10@Hpa@EN) an entity in relation to anything done by the entity–\n> > > > \n> > > > > > (i) that was required under this Act; or\n> > > > > \n> > > > > > (ii) in the mistaken belief that it was required under this Act; or\n> > > \n> > > > (b) [*\\[Section 8 Subsection (1) amended by No. 61 of 2013, s. 10, Applied:01 Mar 2014\\]*](/view/html/inforce/2014-03-01/act-2013-061#GS10@Hpc@EN) an officer, employee or agent of an entity in relation to anything done by the person in the course of the person's appointment, employment or agency–\n> > > > \n> > > > > > (i) that was required under this Act; or\n> > > > > \n> > > > > > (ii) in the mistaken belief that it was required under this Act.\n> \n> > (2)  [*\\[Section 8 Subsection (2) substituted by No. 61 of 2013, s. 10, Applied:01 Mar 2014\\]*](/view/html/inforce/2014-03-01/act-2013-061#GS10@Hpd@EN) If an entity, or a person who is an officer, employee or agent of an entity, communicates or gives information or produces documents under section 16 of the FTR Act, section 41, 43 or 45 of the AMLCTF Act or [section 6](#GS6@EN) , [6A](#GS6A@EN) , [7](#GS7@EN) or [7A](#GS7A@EN) of this Act, the entity or person is taken, for the purposes of [Part 6A of the](/view/html/inforce/2026-04-12/act-1993-020#HP6A@EN) [Crime (Confiscation of Profits) Act 1993](/view/html/inforce/2026-04-12/act-1993-020) , not to have been in possession of the information at any time.\n> \n> > (3)  [*\\[Section 8 Subsection (3) inserted by No. 61 of 2013, s. 10, Applied:01 Mar 2014\\]*](/view/html/inforce/2014-03-01/act-2013-061#GS10@Hpd@EN) In this section –\n> > \n> > > ***entity*** means a cash dealer or a reporting entity.","sortOrder":9},{"sectionNumber":"9","sectionType":"section","heading":"False or misleading statements","content":"### 9 False or misleading statements\n\n> A person must not, in giving information under this Act –\n> \n> > > (a) make a statement that the person knows is false or misleading in a material particular; or\n> > \n> > > (b) [*\\[Section 9 Amended by No. 61 of 2013, s. 11, Applied:01 Mar 2014\\]*](/view/html/inforce/2014-03-01/act-2013-061#GS11@EN) omit anything from a statement knowing that without the thing the statement is misleading in a material particular.\n> \n> Penalty:  Fine not exceeding 1 000 penalty units or imprisonment for a term not exceeding 5 years, or both.","sortOrder":10},{"sectionNumber":"10","sectionType":"section","heading":"Secrecy","content":"### 10 Secrecy\n\n> > (1)  This section applies to a person who is or has been the Commissioner of Police or a police officer.\n> \n> > (2)  A person must not –\n> > \n> > > > (a) make a record of protected information; or\n> > > \n> > > > (b) whether directly or indirectly, divulge or communicate protected information –\n> > \n> > unless the record is made, or the information divulged or communicated, in the performance of duties relating to the enforcement of the laws of the State, the Commonwealth, another State or a Territory.\n> > \n> > Penalty:  Fine not exceeding 400 penalty units or imprisonment for a term not exceeding 2 years, or both.\n> \n> > (3)  A person is not required to divulge or communicate protected information to a court unless it is necessary to do so for the enforcement of the laws of the State, the Commonwealth, another State or a Territory.","sortOrder":11},{"sectionNumber":"10A","sectionType":"section","heading":"Legal professional privilege not affected","content":"### 10A Legal professional privilege not affected\n\n> [*\\[Section 10A Inserted by No. 61 of 2013, s. 12, Applied:01 Mar 2014\\]*](/view/html/inforce/2014-03-01/act-2013-061#GS12@EN) For the avoidance of doubt, nothing in this Act affects the law relating to legal professional privilege.","sortOrder":12},{"sectionNumber":"11","sectionType":"section","heading":"Administration of Act","content":"### 11 Administration of Act\n\n> Until provision is made in relation to this Act by order under [section 4 of the](/view/html/inforce/2026-04-12/act-1990-004#GS4@EN) [Administrative Arrangements Act 1990](/view/html/inforce/2026-04-12/act-1990-004) –\n> \n> > > (a) the administration of this Act is assigned to the Minister for Justice; and\n> > \n> > > (b) the Department responsible to the Minister for Justice in relation to the administration of this Act is the Department of Justice.","sortOrder":13}],"analysis":{"summary":{"complexity_score":4,"scope_assessment":{"changed":false,"description":"Based solely on the metadata available, there is no evidence of scope change from the original intent. The Act appears to have remained focused on financial transaction reporting since its 1993 enactment, consistent with its title. However, without full legislative text or amendment history, this assessment is necessarily limited."},"complexity_factors":["Insufficient legislative text provided — only metadata and headers were supplied, preventing full analysis","Financial compliance legislation typically involves layered reporting obligations with defined thresholds and exemptions","Interaction with federal anti-money laundering frameworks (such as the Commonwealth's Financial Transaction Reports Act 1988 and later the AML/CTF Act 2006) may create jurisdictional complexity","Obligations likely fall on a defined class of regulated entities, requiring understanding of who qualifies as a 'cash dealer' or equivalent","Penalty and enforcement provisions in financial reporting laws can be technically complex","Version history since 1993 suggests multiple amendments that may have altered obligations over time"],"plain_english_summary":"The Financial Transaction Reports Act 1993 (Tas) is a state law that—based on its title and era—appears to require businesses that handle cash or financial transactions to report large or suspicious transactions to authorities, aiming to combat money laundering, tax evasion and related crimes. It affects banks, cash-handling businesses and individuals making significant cash payments by imposing reporting obligations and potential penalties, and reduces privacy for large cash dealings.\n\nCaveat: this summary is inferred from the Act’s title and context; the full text was not provided."},"flash_summary_failed":{"failed":true,"reason":"Unauthenticated. Configure AI_GATEWAY_API_KEY or use a provider module. Learn more: https://ai-sdk.dev/unauthenticated-ai-gateway","source":"analysis-cron"},"flash_summary":{"complexity_score":4,"scope_assessment":{"changed":true,"description":"Amendments (noted in the text) extended the Act’s coverage to Commonwealth AML/CTF reporting entities and to communications made under the AMLCTF Act, adding new duties to supply further information or documents to designated authorities (see s 6A, s 7A) and updating reporting form/contents to AUSTRAC standards (s 7(3)). These changes broaden the Act’s operational scope beyond the original cash-dealer focus."},"complexity_factors":["Cross-references to Commonwealth statutes (FTR Act, AMLCTF Act) which import external definitions and obligations (s 4(1), s 4(2))","Multiple duties and triggers for reporting and providing further information (ss 6, 6A, 7, 7A) with different procedural requirements","Criminal and monetary penalties of varying severity tied to different breaches (ss 6, 6A, 7, 9, 10)","Discretion and administrative design: AUSTRAC CEO approves report forms/means and designated authorities decide when to request further material (ss 7(3)-(4), 6A(2), 7A(2))","Secrecy and disclosure limits for police officers and preservation of legal professional privilege (ss 10, 10A)","Protections from civil liability for entities and staff acting under or believing they act under the Act (s 8) which affect evidentiary status under other laws (s 8(2))","Amendments inserted in 2013 that expand scope to AML/CTF reporting entities and align state obligations with Commonwealth regime (visible in inserted/ substituted sections)"],"plain_english_summary":"This Act requires cash dealers and, since 2013 amendments, AML/CTF reporting entities to prepare and send transaction reports to the AUSTRAC CEO and to provide further information or documents to designated state authorities on request. It creates criminal and monetary penalties for failing to report, for false or misleading statements, and limits liability for entities acting under the Act. Who pays: reporting businesses (s 6, 6A, 7, 9). Who decides: AUSTRAC CEO approves form/means of reporting and designated authorities (Commissioner or investigating officers) request further information (s 4, 6A, 7A)."},"kimi_summary":{"content_quality":"ok","complexity_score":4,"scope_assessment":{"changed":true,"description":"The original 1993 Act appears to have been designed solely to complement the Commonwealth's Financial Transaction Reports Act 1988. However, the 2013 amendments significantly expanded its scope by incorporating the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AMLCTF Act). This transformed the legislation from a single-purpose FTR companion statute into a dual-track system covering both the older FTR regime and the newer, broader AML/CTF regime. The addition of Section 6A (for AMLCTF reporting entities), the expansion of Section 7 to exclude AMLCTF reporting requirements, and the insertion of Section 10A (legal professional privilege) demonstrate scope creep beyond the original intent. The Act now serves as a comprehensive bridge between Tasmanian law enforcement and both federal financial reporting systems, effectively doubling its regulatory reach."},"complexity_factors":["Heavy reliance on external legislation: The Act imports definitions and concepts from two separate Commonwealth Acts (FTR Act 1988 and AMLCTF Act 2006), requiring readers to cross-reference federal law to understand key terms like 'cash dealer', 'reporting entity', and 'AUSTRAC CEO'","Nested conditional logic in Section 7: The trigger for mandatory reporting requires satisfying four separate elements (party to transaction + reasonable suspicion + specific suspicion content + not already required to report under multiple overlapping federal provisions)","Multiple amendment layers: The text shows extensive amendments from 2013 (Act No. 61 of 2013), with subsections omitted, substituted and inserted, creating a patchwork structure that requires careful reading to determine current law","Dual penalty structures: Different offences carry different maximum penalties (400 penalty units/2 years vs 1000 penalty units/5 years), requiring tracking of which conduct attracts which penalty","Cross-referencing to Tasmanian confiscation law: Multiple sections reference the Crime (Confiscation of Profits) Act 1993, creating interdependence with another complex statutory scheme"],"plain_english_summary":"This is a **Tasmanian law** that helps police investigate serious crimes by getting access to financial information held by banks and other financial businesses.\n\n**What it does:**\n- **Connects Tasmania to federal financial reporting systems**: The Act piggybacks on two Commonwealth (federal) laws — the *Financial Transaction Reports Act 1988* and the *Anti-Money Laundering and Counter-Terrorism Financing Act 2006*. These federal laws require banks, casinos, money transfer services and other \"cash dealers\" or \"reporting entities\" to report suspicious transactions and large cash movements to AUSTRAC (Australia's financial intelligence agency).\n\n- **Lets Tasmanian police dig deeper**: When a business reports something to AUSTRAC under those federal laws, Tasmanian police (the \"designated authority\") can demand **additional information or documents** from that business if it might help investigate a Tasmanian offence or confiscate crime profits.\n\n- **Requires reporting of suspicious transactions**: If a bank or financial business suspects a transaction is linked to crime but doesn't have to report it under federal law, this Act **requires** them to report it directly to AUSTRAC anyway.\n\n- **Protects businesses that comply**: Banks and other businesses can't be sued for providing information or documents under this Act, even if they mistakenly thought they had to. They also get protection under Tasmania's crime confiscation laws.\n\n- **Keeps information secret**: Police officers face criminal penalties (up to 2 years prison) for leaking \"protected information\" obtained under this Act, unless it's for legitimate law enforcement purposes.\n\n**Who it affects:**\n- **Banks, casinos, money transfer services, bullion dealers** and other financial businesses operating in Tasmania (called \"cash dealers\" and \"reporting entities\")\n- **Tasmanian police** (Commissioner of Police and investigating officers)\n- **Anyone under investigation** for serious crimes where financial trails matter\n\n**Why it matters:**\nThis law is a crucial tool for fighting money laundering, organised crime, and drug trafficking in Tasmania. It ensures that when federal financial reporting flags something suspicious, Tasmanian authorities can quickly follow up without needing a warrant or court order for the additional information. It strikes a balance between giving police investigative powers and protecting businesses from legal backlash when they cooperate."},"issue_detection":{"absurdities":[],"contradictions":[]}},"importantCases":[],"_links":{"self":"/api/acts/financial-transaction-reports-act-1993","history":"/api/acts/financial-transaction-reports-act-1993/history","analysis":"/api/acts/financial-transaction-reports-act-1993/analysis","conflicts":"/api/acts/financial-transaction-reports-act-1993/conflicts","importantCases":"/api/acts/financial-transaction-reports-act-1993/important-cases","documents":"/api/acts/financial-transaction-reports-act-1993/documents"}}