Remittance registration actions
Remittance Sector Register
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.
Suspension of registration of remittance providers
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|
Cancellation of registration of remittance providers
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|
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|