An instruction to transfer funds or property to either:

  • Australia from another country
  • another country from Australia. 

There are two types of IFTIs.

An IFTI-E is an electronic funds transfer instruction (EFTI) which is sent to or received from another country.

An IFTI-DRA is an instruction to transfer money or property to or from another country under a designated remittance arrangement (DRA) where either:

  • the entity accepting the instruction from the customer or
  • the entity making the money or property available

is not a financial institution.


AML/CTF Act 2006 section 46