What types of businesses have obligations under the AML/CTF Act?
Businesses that provide a designated service as defined in section 6 of the Anti-Money Laundering/Counter-Terrorism Financing Act 2006 (AML/CTF Act) are called 'reporting entities'.
The designated services cover a wide range of business activities undertaken within the financial services, bullion and gambling industry sectors. The AML/CTF Act also provides for additional designated services to be specified by regulation. There are over 70 designated services in four tables:
- table 1: Financial services
- table 2: Bullion
- table 3: Gambling services
- table 4: Prescribed services.
Mandatory enrolment for reporting entities
From 1 November 2011, all reporting entities must be entered onto the Reporting Entity Roll. To enrol, a reporting entity needs to:
- provide information to AUSTRAC about its business and the services it provides
- keep certain records relating to its business and annual financial statements.
Reporting entities also need to keep this enrolment information up-to-date.
For more information about enrolment please visit the AUSTRAC Online business accounts page.
Enrolment information provides AUSTRAC with a more accurate understanding of its regulated population. This is particularly important for identifying which entities are subject to the annual AUSTRAC supervisory levy and the amount of the levy which will apply to each leviable entity.
For more information about the AUSTRAC supervisory levy, please visit the supervisory levy information page.
For reporting entities that do not have computer or internet access, enrolment may be completed using a paper form that is available from AUSTRAC by contacting the AUSTRAC Helpdesk on 1300 021 037 (a local call within Australia).
New enrolment requirements FAQs (PDF, 168KB)
Registration as a remittance network provider, affiliate of a remittance network provider or independent remittance dealer
From 1 November 2011, all providers of remittance services (remitters) must apply to be registered with AUSTRAC, including those that have been registered before.
Under the new law, remitters fall into one of three categories: independent remittance dealer, remittance network provider or an affiliate of a remittance network provider.
To apply for registration, all remitters need to:
- provide information to AUSTRAC about their remittance business and key personnel
- keep certain records about their business
- obtain and keep national police certificates for key personnel.
The fastest and easiest way to apply for registration is through AUSTRAC Online.
Registration can be applied for at the same time as completing your mandatory enrolment form as a reporting entity.
To complete enrolment and apply for registration, please visit the AUSTRAC Online business accounts page.
More information about remitter registration can be accessed on the remitter registration FAQs page of the AUSTRAC website.
Need further assistance?
For help regarding enrolment, registration, or other obligations under the AML/CTF Act, contact the AUSTRAC Help Desk at email@example.com or phone 1300 021 037 (a local call within Australia).