Affiliate of a remittance network provider
A registered remittance service provider who has an agreement with a remittance network provider to use that network’s brand, products, platforms or systems to provide the remittance service. Under the agreement the affiliate accepts instructions from customers to send funds to a recipient in another location.
AML/CTF Act 2006 section 75C
A document that sets out how a reporting entity meets their AML/CTF compliance obligations.
AML/CTF Act 2006 section 83
Australian Government body
Any government, agency or authority of the Commonwealth of Australia or a state or territory of Australia.
AML/CTF Act 2006 section 5
Authorised deposit-taking institution (ADI)
A financial institution licensed by the Australian Prudential Regulatory Authority (APRA) to carry on banking business, including accepting deposits from the public. This includes:
- building societies,
- credit unions.
For AUSTRAC's purposes, the Reserve Bank of Australia and state banks are also ADIs.
AML/CTF Act 2006 Section 5