Money transferred to and from overseas: International Funds Transfer Instruction (IFTI) reports
An international funds transfer instruction (IFTI) is an instruction to transfer money or property to either:
- Australia from another country
- another country from Australia.
If you make an IFTI, you must submit an IFTI report to AUSTRAC within 10 days.
There are two types of IFTIs:
- IFTI-Es are made by financial institutions
- IFTI-DRAs are made by business, organisations or individuals who are not financial institutions, such as remittance service providers and casinos.
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