Remittance Sector Register
From 1 November 2011, remitters are required to apply for registration with AUSTRAC as an independent remittance dealer, remittance network provider or an affiliate of a remittance network provider.
Remitters must apply to AUSTRAC to be on the new Remittance Sector Register even if they were previously registered on the old Providers of Designated Remittance Services (PoDRS) register.
Under the AML/CTF Act, it is an offence to provide designated remittance services if an individual or business is not registered with AUSTRAC.
Registrations are issued for a set period and businesses must reapply for registration every three years.
Under the AML/CTF Act, AUSTRAC has the authority to publish details contained on the new Remittance Sector Register.
See Chapter 5 - Remitter registration requirements of the AUSTRAC compliance guide for more information about remitter registration.
- Enrolment and remitter registration
- Obligations and compliance
- Important information for industry
- AUSTRAC Online
- Consultation with industry
- Exemptions and modifications
- Start-up businesses and financial services
- AUSTRAC industry contribution