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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 program

The reporting entity’s ML/TF risk assessment and its policies, procedures, systems and controls to manage and mitigate ML/TF risk and meet its AML/CTF obligations.

Australian government body

Any government, agency or authority of the Commonwealth of Australia or a state or territory of Australia. This includes a local government authority.

Authorised deposit-taking institution (ADI)

A financial institution licensed by the Australian Prudential Regulatory Authority (APRA) to carry on a banking business, including accepting deposits from the public. This includes:

  • banks
  • building societies
  • credit unions.

The Reserve Bank of Australia and state banks are also ADIs.