Since 1 November 2011, remitters are required to apply for registration with AUSTRAC as an independent remittance dealer, remittance network provider or an affiliate of a remittance network provider.
Under the AML/CTF Act, it is an offence to provide designated remittance services if an individual or business is not registered with AUSTRAC.
Registrations are issued for a set period and businesses must reapply for registration every three years.
Under the AML/CTF Act, AUSTRAC has the authority to publish details contained on the Remittance Sector Register.
See Chapter 5 - Remitter registration requirements of the AUSTRAC compliance guide for more information about remitter registration.