Chapter 2 - Designated services
- Key concepts
- Definitions relating to and examples of common designated services
The Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) imposes obligations on entities that provide 'designated services'. Entities that provide one or more designated services under the AML/CTF Act are 'reporting entities'.
This section provides guidance on the key terms and concepts relevant to determining whether the services provided by a business are captured under the AML/CTF Act.
The information contained in the chapter is not exhaustive and is not a substitute for legal advice. If businesses are uncertain whether their activities meet the definition of a particular designated service, AUSTRAC recommends they obtain independent advice.
- Chapter 1 - About the AUSTRAC compliance guide
- Chapter 2 - Designated services
- Chapter 3 - Designated business groups
- Chapter 4 - Enrolment requirements
- Chapter 5 - Remitter registration requirements
- Chapter 6 - AML/CTF programs
- Chapter 7 - AML/CTF reporting obligations
- Chapter 8 - AML/CTF record-keeping obligations
- Chapter 9 - Exemptions from obligations under the AML/CTF Act
- Chapter 10 - Financial Transaction Reports Act
- Industry specific guidance
- Ready reckoner
- Updates to the AUSTRAC Compliance guide