Remittance registration actions
Remittance Sector Register
- Suspension of registration of remittance providers
- Refusal to renew the registration of remittance providers
- Cancellation of registration of remittance providers
- Cancellations revoked by AUSTRAC
Remittance service providers in Australia are required to apply to AUSTRAC for registration.
It is an offence to provide designated remittance services if an individual or business is not registered with AUSTRAC.
To check if a remitter is registered, please search the Remittance Sector Register (RSR).
AUSTRAC Chief Executive Officer (CEO) may suspend or cancel the registration of a designated remittance provider from the RSR if satisfied that it is appropriate to do so having regard to:
- whether the continued registration of the person involves, or may involve, a significant money laundering, financing of terrorism or people smuggling risk; or
- one or more breaches by the person of a condition of registration; or
- other matters as are specified in the AML/CTF Rules.
A person affected by the cancellation of a registration has 30 days from when they are informed of the decision to apply to the AUSTRAC CEO for the decision to be reconsidered.
Actions to suspend registration on the RSR are undertaken pursuant to paragraph 59.4 of the Anti-Money Laundering and Counter-Terrorism Financing Rules Instrument 2007 (No.1) (AML/CTF Rules).
|26 September 2014||Bisotel Rieh Pty Ltd|
|19 September 2014||Bisotel Rieh Pty Ltd|
|17 September 2014||Bisotel Rieh Pty Ltd|
|17 October 2014||AVSForex Pty Ltd|
|27 July 2015||Global Forex (Perth) Pty Ltd|
|15 December 2015||Weigang Li & Dongfang Tan (trading as Empire Milk Bar)||
Notice not published
|15 December 2015||Narinder Singh (trading as Star Link Travel)||Notice not published|
|11 May 2016||Korea Pty Ltd||Notice not published|
|11 May 2016||ToKorea Pty Ltd||Notice not published|
|11 May 2016||Forex Sydney Pty Ltd||Notice not published|
|30 May 2016||Vision Rehoboth Pty Ltd (trading as City Kowon)||Notice not published|
|15 June 2016||Safir Pty Ltd (remittance network provider and independent remittance provider)||Notice not published|
|15 June 2016||SMX Services Pty Ltd||Notice not published|
|15 June 2016||Mujtaba Musawi||Notice not published|
Actions to refuse an application for renewal of registration on the RSR are undertaken pursuant to paragraph 70.9 of the Anti-Money Laundering and Counter-Terrorism Financing Rules Instrument 2007 (No. 1) (AML/CTF Rules).
|27 July 2015||Global Forex (Perth) Pty Ltd|
Actions to cancel registration on the RSR are undertaken pursuant to section 75G of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act).
|14 April 2014||Fast Exchange Pty Ltd|
|14 July 2014||KMT Sydney Pty Ltd|
|8 October 2014||S K Trading (NSW) Pty Ltd|
|10 November 2014||Bisotel Rieh Pty Ltd|
|20 November 2014||AVSForex Pty Ltd|
|17 December 2014||Ocean Pass Finance Pty Ltd|
|3 February 2015||Moazo Pty Ltd|
|3 February 2015||Billion Trend Forex Pty Ltd|
|5 May 2015||FNF First National Finance Pty Ltd|
|26 August 2015||Estefa Milka Honores (American Cash Service)|
|28 September 2015||Sinoaust Pty Ltd|
|27 January 2016||Oakwood Sydney Pty Ltd|
|18 March 2016||Marco Traiding Pty Ltd|
|23 March 2016||Narinder Singh (trading as Star Link Travel)|
|12 April 2016||Yousif Murad|
|9 June 2016||Korea Pty. Ltd|
|9 June 2016||Forex Sydney Pty Ltd|
|27 June 2016||ToKorea Pty Ltd|
|29 June 2016||Vision Rehoboth Pty Ltd|
|Date (if applicable)||Entity name||Further action|
|17 December 2015||Estefa Milka Honores (American Cash Service)||Registered with conditions imposed|
Removal from Register of Providers of Designated Remittance Services
Pursuant to paragraph 44.2 of the AML/CTF Rules the AUSTRAC Chief Executive Officer (CEO) may remove a person's name and registrable details from the Register of Providers of Designated Remittance Services (PDRS) if he is of the opinion that the consequences of keeping that person's name and registrable details on the Register of PDRS constitute an unacceptable money laundering or terrorism financing risk.
It is an offence, under subsection 74(2) of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, for a person to provide a registrable designated remittance service if the person's name and registrable details are not entered on the Register.
Once the AUSTRAC CEO has removed a person's name and registrable details from the Register of PDRS the AUSTRAC CEO must within seven days give the person written notice of the removal.
Names removed from Register of Providers of Designated Remittance Services :
|14 October 2010||Thi Kim Hong Tran|
|12 January 2011||Cyril Ihemeje|