International funds transfer instructions

20-JAN-2009

If a reporting entity sends or receives an instruction to or from a foreign country for a transfer of money or property - either electronically or under a remittance arrangement - they must submit an international funds transfer instruction (IFTI) report to AUSTRAC.

AUSTRAC has produced two types of IFTI report forms. The form that reporting entities use will depend on whether or not they are part of the established banking system and send or receive instructions electronically, or they are remitting money or property under a 'designated remittance arrangement'.

An IFTI report must be submitted within 10 business days of sending or receiving the instruction.

Further information

AUSTRAC has produced various educational tools and publications to assist reporting entities with their IFTI reporting obligations. These include:

07-MAR-2013

Related information

05-MAR-2013

AML/CTF Act

AUSTRAC Online

AUSTRAC Regulatory Guide

Brochure series

E-learning courses

Reporting obligations

08-MAR-2013

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