A service that has been identified in the Act as posing a risk for money laundering, terrorism financing and proliferation financing, and which meets the geographical link requirement.
Designated services include a range of business activities in:
- financial services
- bullion
- dealing in precious metals, stones and products
- gambling
- remittance services (also known as a money transfer business)
- virtual assets services
- real estate brokering, sales and property development services
- professional services, typically offered by lawyers, accountants, conveyancers and insolvency practitioners.