In late August, AUSTRAC launched a community-based campaign targeted at unregistered money transfer dealers, also known as unregistered remittance dealers.
Across Australia, many communities rely on the services of money transfer businesses to send and receive money from overseas, which supports friends and family living on opposite side of the world.
However, unregistered money transfer dealers don’t have the level of protections in place required by a business that is registered with AUSTRAC. This makes them an attractive target for criminals who might use them to launder money from a range of serious crimes, from child exploitation, illegal firearms sales and drug trafficking, through to tax evasion or phone and email fraud.
This is why AUSTRAC is speaking directly to communities to educate them on the risks of using unregistered money transfer dealers and, importantly, what actions they can take to protect themselves and their community.
