Glossary
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Ransomware
A type of software the locks or encrypts a victim’s files until a ransom is paid.
Reasonable person
A ‘reasonable person’ is a legal term. It refers to a hypothetical person who displays reasonable or ordinary behaviour or judgment in the circumstances.
Remittance network provider (RNP)
An entity that allows affiliates to use its brand, products, platforms or systems to provide remittance services to customers.
Remittance service provider
An individual, business or organisation that accepts instructions from customers to transfer money or property to a recipient. They’re also known as ‘money transfer businesses. It’s against the law to provide remittance services in Australia without being registered with us.
Reporting entity
An entity that provides designated services or a lead entity of a reporting group. They must comply with AML/CTF obligations.
Reporting groups
A group of persons in a common ownership or control structure, or that have chosen to form a group, that includes one or more reporting entities. Reporting groups have a lead entity and ordinary members.