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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:

  • banks
  • building societies,
  • credit unions.

For AUSTRAC's purposes, the Reserve Bank of Australia and state banks are also ADIs.

See

AML/CTF Act 2006 Section 5