Guide
SMR vs TTR: what is the difference?
Last updated 8 September 2026
A suspicious matter report (SMR) is filed when you have reasonable grounds to suspect a transaction may relate to a crime, at any amount. A threshold transaction report (TTR) is filed for any transfer of physical currency of A$10,000 or more, whether or not it is suspicious.
| Suspicious matter report (SMR) | Threshold transaction report (TTR) | |
|---|---|---|
| Trigger | Reasonable grounds to suspect a link to a crime | A physical currency transaction of A$10,000 or more |
| Amount | Any amount | A$10,000 or more (cash) |
| Timeframe | 24 hours for terrorism financing, 3 business days otherwise | Within 10 business days |
| Based on | Your suspicion | The transaction amount |
What is a suspicious matter report?
An SMR is lodged with AUSTRAC when you form a reasonable suspicion that a customer or transaction may be linked to a crime, such as money laundering, terrorism financing or tax evasion. There is no dollar threshold. You must not tell the customer you have formed a suspicion or lodged a report, which is the tipping-off prohibition.
What is a threshold transaction report?
A TTR is lodged for any transfer of physical currency of A$10,000 or more (or the foreign-currency equivalent). It is based purely on the amount, so a TTR can be required even when nothing about the transaction is suspicious.
Senly AML drafts your suspicious matter and threshold transaction reports so they are ready to review and submit, and handles the tipping-off lockdown for you.
Questions, answered.
- What is the difference between an SMR and a TTR?
- An SMR is filed when you suspect a link to a crime, at any amount. A TTR is filed for a cash transaction of A$10,000 or more, regardless of suspicion.
- How long do I have to lodge an SMR?
- Within 24 hours if it relates to terrorism financing, and within 3 business days otherwise.
- What is the TTR threshold?
- A transfer of physical currency of A$10,000 or more, or the equivalent in foreign currency, must be reported within 10 business days.
This guide is general information, not legal advice. The official source is austrac.gov.au.