A service for transferring money or property offered by a remittance service provider. The remittance service must involve either accepting an instruction for the transfer of money or property, or making money or property available to the intended payee, or both. In addition, the remittance service must be provided at or through a permanent establishment of the remittance service provider in Australia.
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Business
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Core guidance
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Customer identification and verification
- Customer identification (KYC)
- Beneficial owners
- Politically exposed persons (PEPs)
- Customer identification and verification: easy reference guide
- Assisting customers who don’t have standard forms of identification
- Reliable and independent documentation and electronic data
- High-risk countries, regions and groups
- How to comply with KYC requirements during the COVID-19 pandemic
- Source of funds and source of wealth
- Exceptions to verifying a customer before providing a designated service
- Reliance on customer identification procedures by a third party
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AML/CTF programs
- ML/TF risk assessment
- Implement a risk management process
- Compliance officers
- Independent reviews
- Employee due diligence
- Employee training: AML/CTF risk awareness training program
- Enhanced customer due diligence (ECDD)
- Transaction monitoring
- Designated business groups (DBG)
- Suspicious transactions identified by your transaction monitoring system
- Reporting
- Guidance on debanking
- Exemptions and modifications
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- Industry contribution levy
- Consequences of not complying
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- Preventing financial crime using a risk-based approach
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About us
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AML/CTF Reform
- About the reforms
- Check if you may be regulated (Reform)
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Reforms guidance
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Before you start
- Check if you'll be regulated
- New industries and services to be regulated (Reform)
- Combating money laundering, terrorism financing and proliferation financing
- Learn how to use this guidance (Reform)
- Summary of AML/CTF obligations for tranche 2 entities
- Summary of changes for current reporting entities
- Find out when to enrol and register (Reform)
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AML/CTF program (Reform)
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Develop your AML/CTF program (Reform)
- Your AML/CTF program (Reform)
- Step 1: Establish your governance framework (Reform)
- Step 2: Identify and assess your risks: risk assessment (Reform)
- Step 3: Mitigate and manage your risks - AML/CTF policies (Reform)
- Step 4: Review and update your AML/CTF program (Reform)
- Step 5: Conduct an independent evaluation (Reform)
- Record keeping (Reform)
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Customer due diligence (Reform)
- Overview of customer due diligence (Reform)
- Initial customer due diligence (Reform)
- Assigning customer risk ratings (Reform)
- Reliance on customer identification by a third party (Reform)
- Enhanced customer due diligence (Reform)
- Ongoing customer due diligence (Reform)
- Politically exposed persons (Reform)
- Persons designated for targeted financial sanctions (Reform)
- Source of funds and source of wealth (Reform)
- Transitioning existing customers (Reform)
- Personnel due diligence and training (Reform)
- Reporting to AUSTRAC (Reform)
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Develop your AML/CTF program (Reform)
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Other guidance
- Determining ownership and control structures (Reform)
- Reporting groups (Reform)
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The travel rule (Reform)
- When the travel rule doesn’t apply (Reform)
- Travel rule overview (Reform)
- Travel rule obligations for ordering institutions (Reform)
- Travel rule obligations for intermediary institutions (Reform)
- Travel rule obligations for beneficiary institutions (Reform)
- Additional travel rule obligations when transferring virtual assets (Reform)
- Foreign branches and subsidiaries (Reform)
- Using outsourcing to help meet your AML/CTF obligations (Reform)
- Repeal of the Financial Transaction Reports Act 1988
- New information gathering powers
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Before you start
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Risks and indicators of suspicious activity
- Risk insights for virtual asset service providers
- Risk insights and indicators of suspicious activity for accountants
- Risk insights and indicators of suspicious activity for legal professionals
- Risk insights and indicators of suspicious activity for the real estate sector
- Risk insights and indicators of suspicious activity for dealers in precious stones, metals and other products
- What’s coming soon to help you
- Preparing for the changes as a current reporting entity
- Preparing for the changes if you’re newly regulated
- AUSTRAC regulatory expectations and priorities for 2025–26
- Future Law Compilation of the AML/CTF Act
- Education about reforms
- For current reporting entities
- New AML/CTF Rules
- Careers
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Corporate information and governance
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Reports and accountability
- AUSTRAC Audit and Risk Committee (ARC) Charter
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- Commonwealth Child Safe Framework - annual statement of compliance (2021)
- Contracts
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- Report on the statutory review of the AML/CTF Act and associated Rules and Regulations
- Review of the AUSTRAC industry contribution levy arrangements
- Senate file list
- AUSTRAC Artificial Intelligence Transparency Statement