Remitter registration

Categories of remitters

The three categories of remitters that are regulated are:

remittance network provider: an organisation that operates a network of remittance affiliates by providing the systems and services that enables its affiliates to provide remittance services

affiliate of remittance network provider: a business that provides remittance services to customers as part of a remittance network facilitated by a remittance network provider

independent remittance dealer: a business that provides remittance services to customers using their own systems and processes, independent of a remittance network.

Note: Further information for independent remitters can be found in the AML/CTF compliance guide for independent remittance dealers:

New registration scheme

All remitters need to be registered with AUSTRAC under the new registration scheme and will need to reapply for registration (renewal) every three years.

The new registration scheme:

requires a person seeking registration to provide the AUSTRAC CEO with information relevant to their suitability for registration

allows the AUSTRAC CEO to obtain information from other persons to determine whether the person is suitable to be registered

allows the AUSTRAC CEO to refuse, suspend, cancel or impose conditions on the registration of a remittance network provider, remittance affiliate or independent remittance dealer. The applicant or registered remittance provider will also be able to make an application to request an independent review of a decision by the AUSTRAC CEO

allows the AUSTRAC CEO to issue infringement notices for certain breaches of registration requirements

requires remittance network providers to undertake some AML/CTF Act reporting obligations on behalf of their affiliates

establishes a new Remittance Sector Register (which replaces the old Register of Providers of Designated Remittance Services)

allows the AUSTRAC CEO to make public details from the Remittance Sector Register

Transition to the new registration scheme

From 1 November 2011, remitters that are already registered with AUSTRAC are required to register under the new registration scheme:

independent remittance dealers had up until 30 April 2012 to apply for registration

remittance network providers have up until 31 October 2012 to apply for registration for themselves and their affiliates.

Remitters can complete their registration through AUSTRAC Online.

Internal review of certain decisions

You may apply for an internal review of a decision that was made pursuant to sections 75B, 75C, 75E, 75G or 75H of the AML/CTF Act. These include decisions to refuse an application for registration on the remittance sector register, suspend registration, cancel registration and impose conditions on registration.

If you seek internal review of these decisions, please download and complete the Application for internal review of an AUSTRAC decision form and return it to AUSTRAC as instructed.