means the policies, procedures, systems and controls of the reporting entity developed under section 26F; and

if the policies, procedures, systems and controls of the reporting entity are updated—includes the policies, procedures, systems and controls as updated.

if the reporting entity is an individual—the individual; or

otherwise—the individual, or group of individuals, with primary responsibility for the governance and executive decisions of the reporting entity.

means the risk assessment undertaken by the reporting entity under section 26C; and

if the assessment is updated under section 26D—includes the risk assessment as updated.

(a) an offence against the Charter of the United Nations Act 1945, or regulations made under that Act, that is prescribed by regulations made under this Act for the purposes of this paragraph; or

(b) an offence against the Autonomous Sanctions Act 2011, or a contravention of regulations made under that Act, that involves sanctions addressing the proliferation of weapons of mass destruction; or

(c) an offence against the Autonomous Sanctions Act 2011, or a contravention of regulations made under that Act, that is prescribed by regulations made under this Act for the purposes of this paragraph; or

the provision of assets (including funds) or financial services, or other dealing with assets, in contravention of a law of the Commonwealth that:

implements an international agreement, convention or treaty relating to the proliferation of weapons of mass destruction; and

is prescribed by the regulations for the purposes of this paragraph; or

an offence against a law of a State or Territory that corresponds to an offence referred to in paragraph (a), (b), (c) or (d); or

an offence against a law of a foreign country or a part of a foreign country that corresponds to an offence referred to in paragraph (a), (b), (c), (d) or (e); or

an offence against a law of the Commonwealth, a State or a Territory that is prescribed by the regulations for the purposes of this paragraph.

a person who provides a designated service; or

the lead entity of a reporting group.

any of the following apply:

a member of a business group provides the service to another member of the business group;

the service is of a kind described in item 48 of table 1 and the guarantor and borrower are members of the same business group;

the service is of a kind described in item 49 of table 1 and the guarantor and borrower are members of the same business group;

the service is of a kind specified in the AML/CTF Rules; and

the service is not of a kind specified in the AML/CTF Rules; and

the requirements (if any) specified in the AML/CTF Rules are met.

a business group, where:

at least one person in the group provides a designated service; and

each member of the group satisfies such conditions (if any) as are specified in the AML/CTF Rules; and

the group is not of a kind that, under the AML/CTF Rules, is ineligible to be a reporting group to which this paragraph applies; and

the conditions (if any) relating to changes in membership, dissolution, administration or operation of the group that are specified in the AML/CTF Rules are satisfied; or

a group of 2 or more persons, where:

each member of the group has elected, in writing, to be a member of the group, and the election is in force; and

each election was made in accordance with the AML/CTF Rules; and

no member of the group is a member of another group to which this paragraph applies; and

each member of the group satisfies such conditions (if any) as are specified in the AML/CTF Rules; and

the group is not of a kind that, under the AML/CTF Rules, is ineligible to be a reporting group; and

the conditions (if any) relating to changes in membership, dissolution, administration or operation of the group that are specified in the AML/CTF Rules are satisfied.

one person in the group controls each other person in the group;

the group meets the requirements (if any) specified in the AML/CTF Rules.

having the capacity to cast, or control the casting of, more than one half of the maximum number of votes that might be cast at a general meeting of the body corporate; or

(b) directly or indirectly holding more than one half of the issued share capital of the body corporate (not including any part of the issued share capital that carries no right to participate beyond a specified amount in a distribution of either profits or capital, and not including mutual capital instruments Corporations Act 2001); orwithin the meaning of section 167AD of the

having the capacity to control the composition of the body corporate’s board or governing body; or

having the capacity to determine the outcome of decisions about the body corporate’s financial and operating policies, taking into account:

the practical influence that can be exerted (rather than the rights that can be enforced); and

any practice or pattern of behaviour affecting the body corporate’s financial or operating policies (whether or not it involves a breach of an agreement or a breach of trust).

having the capacity to control the composition of the person’s board or governing body (if any); or

having the capacity to determine the outcome of decisions about the person’s financial and operating policies, taking into account:

the practical influence that can be exerted (rather than the rights that can be enforced); and

any practice or pattern of behaviour affecting the person’s financial or operating policies (whether or not it involves a breach of an agreement or a breach of trust).

the reporting entity’s ML/TF risk assessment; and

the reporting entity’s AML/CTF policies.

the kinds of designated services provided, or proposed to be provided, by the reporting entity, including any new or emerging technologies relating to those services;

the kinds of customers to whom the reporting entity’s designated services are or will be provided;

the delivery channels by which the reporting entity’s designated services are or will be provided, including any new or emerging technologies relating to those delivery channels;

the countries with which the reporting entity deals, or will deal, in providing its designated services;

information communicated either directly or indirectly by AUSTRAC to the reporting entity that identifies or assesses the risks associated with the reporting entity’s provision of its designated services;

the matters (if any) specified in the AML/CTF Rules.

if any of the following occur:

there is a significant change to any of the matters mentioned in subsection 26C(3);

AUSTRAC communicates to the reporting entity information that identifies or assesses risks associated with the reporting entity’s provision of its designated services;

circumstances specified in the AML/CTF Rules; and

in any event—at least once every 3 years.

for a significant change that is within the control of the reporting entity—before the significant change occurs; or

for a significant change that is not within the control of the reporting entity—as soon as practicable after the significant change occurs; or

for information communicated for the purposes of subparagraph (1)(a)(ii)—as soon as practicable after the information is communicated to the reporting entity; or

for circumstances specified in the AML/CTF Rules—at the time, or within the period, specified in the AML/CTF Rules.

for a significant change that is within the control of the reporting entity—before the significant change occurs; or

in any other case—as soon as practicable after the review is completed.

appropriately manage and mitigate the risks of money laundering, financing of terrorism and proliferation financing that the reporting entity may reasonably face in providing its designated services; and

ensure the reporting entity complies with the obligations imposed by this Act, the regulations and the AML/CTF Rules on the reporting entity; and

are appropriate to the nature, size and complexity of the reporting entity’s business; and

comply with any requirements specified in the AML/CTF Rules.

identifying significant changes to any of the matters mentioned in subsection 26C(3);

carrying out customer due diligence in accordance with Part 2;

reviewing and updating the AML/CTF policies in the following circumstances:

in response to a review of the reporting entity’s ML/TF risk assessment under section 26D;

circumstances specified in the AML/CTF Rules;

reviewing the AML/CTF policies of the reporting entity at the intervals or with the frequency specified in the AML/CTF Rules (and in any event at least once every 3 years);

any other matters specified in the AML/CTF Rules.

if the reporting entity is not an individual—ensuring its governing body is sufficiently informed of the risks of money laundering, financing of terrorism and proliferation financing that the reporting entity may reasonably face in providing its designated services;

designating an AML/CTF compliance officer for the reporting entity;

designating one or more senior managers of the reporting entity as responsible for approving:

the AML/CTF policies of the reporting entity; and

the ML/TF risk assessment of the reporting entity;

undertaking due diligence in relation to persons who are, or will be, employed or otherwise engaged by the reporting entity and who perform, or will perform, functions relevant to the reporting entity’s obligations under this Act;

providing training to persons who are employed or otherwise engaged by the reporting entity and who perform, or will perform, functions relevant to the reporting entity’s obligations under this Act in relation to:

the risk of money laundering, financing of terrorism and proliferation financing that the reporting entity may reasonably face in providing its designated services; and

the obligations imposed by this Act, the regulations and the AML/CTF Rules on the reporting entity;

the conduct of independent evaluations of the reporting entity’s AML/CTF program, including the frequency with which such evaluations must be conducted, which must:

be appropriate to the nature, size and complexity of the reporting entity’s business; and

be at least once every 3 years;

any other matters specified in the AML/CTF Rules.

ensuring the appropriate sharing of information between members of the reporting group for the following purposes:

carrying out customer due diligence under Part 2;

appropriately identifying, assessing, managing and mitigating the risks of money laundering, financing of terrorism and proliferation financing that each reporting entity that is a member of the reporting group may reasonably face in providing its designated services;

any other matters specified in the AML/CTF Rules.

ensuring the sharing of information between members of the reporting group that is necessary for the members of the reporting group who are reporting entities to comply with:

their obligations imposed by this Act, the regulations and the AML/CTF Rules; and

the AML/CTF policies of the lead entity;

if any member of the reporting group discharges an obligation imposed on another member of the reporting group by this Act, the regulations or the AML/CTF Rules:

which members of the reporting group may discharge which obligations of which other member; and

ensuring that each member of the reporting group that is a reporting entity makes, or has access to, records to demonstrate any discharge by another member of the reporting group of any such obligations imposed on the reporting entity;

ensuring the confidentiality and appropriate use of any information shared between members of the reporting group, including to prevent any contravention of subsection 123(1) by any member of the reporting group;

any other matters specified in the AML/CTF Rules.

specify requirements that must be complied with in relation to a matter mentioned in subsection (3), (4), (5) or (6);

set out circumstances in which the AML/CTF policies of a reporting entity are taken to comply with a matter mentioned in those subsections.

the reporting entity reasonably assesses, under section 26C or 26D, the risk of proliferation financing that the reporting entity may reasonably face as low; and

the reporting entity reasonably assesses that its risk of proliferation financing can be appropriately managed and mitigated by its policies, procedures, systems and controls that manage and mitigate the risks of money laundering or financing of terrorism.

a reporting entity is a member of a reporting group; and

the reporting entity is not the lead entity of the reporting group;

exercise appropriate ongoing oversight of:

the reporting entity’s identification and assessment of risk for the purposes of its ML/TF risk assessment; and

the reporting entity’s compliance with its AML/CTF policies, the Act, the regulations and the AML/CTF Rules; and

take reasonable steps to ensure that the reporting entity:

is appropriately identifying, assessing, managing and mitigating the risks of money laundering, financing of terrorism and proliferation financing that the reporting entity may reasonably face in providing its designated services; and

is otherwise complying with its AML/CTF policies, the Act, the regulations and the AML/CTF Rules.

is a person employed or otherwise engaged by the reporting entity at management level; and

has sufficient authority, independence and access to resources and information to ensure the individual can perform the functions of an AML/CTF compliance officer effectively.

if the reporting entity provides its designated services at or through a permanent establishment of the reporting entity in Australia—is a resident of Australia; and

is a fit and proper person; and

meets the requirements (if any) specified in the AML/CTF Rules.

the reporting entity designates an individual as its AML/CTF compliance officer; and

the individual is not eligible under subsection (3) to be designated as the AML/CTF compliance officer for the reporting entity.

a reporting entity commences to provide a designated service; and

an individual is not designated as the AML/CTF compliance officer for the reporting entity;

a reporting entity commences to provide a designated service; and

the individual designated as the AML/CTF compliance officer for the reporting entity ceases to be eligible under subsection 26J(3) to be so designated;

a reporting entity is required under subsection (1) or (2) to designate an individual as the AML/CTF compliance officer for the reporting entity by a particular time; and

the reporting entity does not do so by that time;

the reporting entity designates an individual as the AML/CTF compliance officer for the reporting entity; or

the reporting entity ceases to be a reporting entity;

beginning on the day on which the deadline occurs; and

ending on the day on which the reporting entity’s obligation to comply with the requirement ends (see subsection (3)).

to oversee and coordinate the reporting entity’s day-to-day compliance with this Act, the regulations and the AML/CTF Rules; and

to oversee and coordinate the effective operation of and compliance with the reporting entity’s AML/CTF policies; and

to communicate, on behalf of the reporting entity, with AUSTRAC; and

to do anything incidental to or conducive to the performance of any of the above functions; and

any other functions specified in the AML/CTF Rules.

must be in the approved form; and

must contain such information, and be accompanied by such documents, as is required by the approved form.

its AML/CTF program;

any other matter relating to the AML/CTF program of the reporting entity specified in the AML/CTF Rules.

a reporting entity does not have an AML/CTF program; or

the AML/CTF program of a reporting entity is not up to date; or

the AML/CTF program of a reporting entity does not appropriately identify, assess, manage or mitigate the risk of money laundering, financing of terrorism and proliferation financing that the reporting entity may reasonably face in providing its designated services.

do one or more of the following:

undertake and document an ML/TF risk assessment of the reporting entity;

review and update the ML/TF risk assessment of the reporting entity;

develop and document AML/CTF policies of the reporting entity;

review and update the AML/CTF policies of the reporting entity; and

provide a copy of the documentation within:

the period specified in the notice; or

if the AUSTRAC CEO allows a longer period—that longer period.

the person is subject to a requirement under subsection (2); and

the person engages in conduct; and

the person’s conduct breaches the requirement.

undertaking a risk assessment for the remittance affiliate; or

developing AML/CTF policies for the remittance affiliate.

ML/TF risk assessment; and

AML/CTF policies;

relate to undertaking initial customer due diligence in accordance with section 28; and

are appropriate to the risks of money laundering, financing of terrorism and proliferation financing that the reporting entity may reasonably face in providing its designated services.

paragraphs 26F(1)(b) and (3)(a) to (d) and subsection 26F(4);

section 26H;

subsection 26P(2);

Division 5.

is incorporated in a foreign country; and

is authorised to carry on banking business in its country of incorporation; and

does not have a physical presence in its country of incorporation; and

is not an affiliate of another corporation that:

is incorporated in a particular country; and

is authorised to carry on banking business in its country of incorporation; and

has a physical presence in its country of incorporation.

the corporation carries on banking business at a place in that country; and

at least one full-time employee of the corporation performs banking-related duties at that place.

the corporation is a subsidiary of the other corporation; or

at least one individual controls both corporations; or

under the regulations, both corporations are taken to be under common control.

are reasonably necessary to demonstrate compliance with the reporting entity’s obligations under Part 1A; and

are in the English language, or in a form in which the records are readily accessible and readily convertible into writing in the English language.

beginning at the time the record was made; and

ending 7 years after the record is no longer relevant to the reporting entity’s compliance with its obligations under Part 1A.

the person is or has been:

a reporting entity; or

an officer, employee or agent of a reporting entity; or

a member of a reporting group; or

an officer, employee or agent of a member of a reporting group; or

required by a notice under subsection 49(1) to give information or produce documents; or

required by notice under subsection 49B(2) to give information or produce documents; and

arrange for the external auditor to carry out an external audit of the reporting entity’s capacity and endeavours to identify, assess, manage or mitigate the risks of money laundering, financing of terrorism and proliferation financing that the reporting entity may reasonably face in providing its designated services at or through a permanent establishment of the reporting entity in Australia; and

an assessment of the risks of money laundering, financing of terrorism and proliferation financing that the reporting entity may reasonably face in providing its designated services at or through a permanent establishment of the reporting entity in Australia;

an assessment of what the reporting entity will need to do, or continue to do, to appropriately identify, assess, manage or mitigate the risks of money laundering, financing of terrorism and proliferation financing that the reporting entity may reasonably face in providing its designated services at or through a permanent establishment of the reporting entity in Australia.

subsection 26K(1) or (2) (which deal with reporting entities’ obligation to designate an AML/CTF compliance officer);

subsection 26M(1) (which deals with notifications about AML/CTF compliance officers);

subsection 26N(2) (which deals with AML/CTF program documentation);

subsection 26P(3) (which deals with AML/CTF program approvals);

subsection 26Q(2) (which deals with requests for AML/CTF program documentation);

subsection 116(1) or (3) (which deal with retaining records relating to AML/CTF programs);

the reporting entity provides a designated service at or through a permanent establishment in a foreign country; and

a law of the foreign country that applies in the place where the permanent establishment is located prevents the reporting entity from complying with that civil penalty provision; and

before the conduct alleged to constitute the contravention occurs, the reporting entity has given written notice, in the approved form, to the AUSTRAC CEO of those facts; and

at the time the conduct alleged to constitute the contravention occurs, the reporting entity is taking reasonable steps to ensure that the reporting entity is appropriately identifying, assessing, managing and mitigating any additional risk of money laundering, terrorism financing or proliferation financing associated with being prevented from complying with that civil penalty provision.

that a permanent establishment of the ordinary member is taken to be a permanent establishment of the lead entity; and

that the lead entity is taken to provide the designated service in the same capacity as the ordinary member; and

that the lead entity is taken to have received any information communicated either directly or indirectly by AUSTRAC to the ordinary member that identifies or assesses the risks associated with the ordinary member’s provision of the designated service; and

a circumstance specified by the AML/CTF Rules.

a reporting entity is a member of a reporting group; and

an obligation is imposed on the reporting entity by a provision of this Act, the regulations or the AML/CTF Rules; and

such other conditions (if any) as are specified in the AML/CTF Rules are satisfied; and

the obligation is not of a kind, or does not arise in circumstances, specified in the AML/CTF Rules;

a member of a reporting group; and

not the lead entity of the reporting group;

ultimately owns (either directly or indirectly) 25% or more of the person; or

controls (directly or indirectly) the person.

a stepchild or an adopted child of the person;

someone who would be the stepchild of the person except that the person is not legally married to the person’s partner;

(c) someone who is a child of the person within the meaning of the Family Law Act 1975.

an individual who holds an office or position (whether or not in or for the Commonwealth) specified in the AML/CTF Rules; or

an individual who is a member of the legislature of the Commonwealth or of a State or Territory; or

a family member of an individual covered by paragraph (a) or (b); or

an individual who is known (having regard to information that is public or readily available) to have:

joint beneficial ownership of a body corporate or legal arrangement with an individual covered by paragraph (a) or (b); or

sole beneficial ownership of a body corporate or legal arrangement on behalf or for the benefit of an individual covered by paragraph (a) or (b); or

any other close business relations with an individual covered by paragraph (a) or (b).

(a) paragraph (a) or (b) of the definition of domestic politically exposed person in this section; or

(b) paragraph (a) of the definition of foreign politically exposed person in this section; or

(c) paragraph (a) of the definition of international organisation politically exposed person in this section;

a spouse, de facto partner, or other person who is equivalent to a spouse or de facto partner under any applicable law of a foreign country, of the individual; and

a child of the individual; and

a spouse or de facto partner, or other person who is equivalent to a spouse or de facto partner under any applicable law of a foreign country, of a child of the individual; and

a parent of the individual.

an individual who holds a prominent office or position or public function in or for the legislature, executive or judiciary of a foreign country, including an individual who holds any of the following offices or positions:

head of state or head of government;

member of the executive council of government;

member of a legislature;

minister, deputy minister or equivalent office or position;

judge of a supreme court, constitutional court or other court of general jurisdiction or last resort;

ambassador, high commissioner or charge d’affaires;

high ranking military officer;

head or board member of a government body;

head or board member of a state-owned company or a state-owned bank;

member of a governing body of a political party represented in a legislature;

an office or position prescribed in the AML/CTF Rules; or

a family member of an individual covered by paragraph (a); or

an individual who is known (having regard to information that is public or readily available) to have:

joint beneficial ownership of a body corporate or legal arrangement with an individual covered by paragraph (a); or

sole beneficial ownership of a body corporate or legal arrangement on behalf or for the benefit of an individual covered by paragraph (a); or

any other close business relations with an individual covered by paragraph (a).

an individual who is entrusted with a prominent public function, position or office of a public international organisation, including a head, deputy head or board member in a public international organisation;

a family member of an individual covered by (a);

an individual who is known (having regard to information that is public or readily available) to have:

joint beneficial ownership of a body corporate or legal arrangement with an individual covered by paragraph (a); or

sole beneficial ownership of a body corporate or legal arrangement on behalf or for the benefit of an individual covered by paragraph (a); or

any other close business relations with an individual covered by paragraph (a).

provides reasonable grounds for the reporting entity to establish the matters mentioned in subsection 28(2); or

enables the reporting entity to identify or assess the ML/TF risk of the customer.

the reporting entity provides the designated service at or through a permanent establishment in one country; and

the customer uses the designated service to provide services to its own customers at or through a permanent establishment in another country; and

the relationship is not a correspondent banking relationship.

(a) a designated person or entity (within the meaning of regulations made under the Charter of the United Nations Act 1945); or

(b) a designated person or entity (within the meaning of regulations made under the Autonomous Sanctions Act 2011).

a domestic politically exposed person; or

a foreign politically exposed person; or

an international organisation politically exposed person.

the identity of the customer;

the identity of any person on whose behalf the customer is receiving the designated service;

the identity of any person acting on behalf of the customer and their authority to act;

if the customer is not an individual—the identity of any beneficial owners of the customer;

whether the customer, any beneficial owner of the customer, any person on whose behalf the customer is receiving the designated service, or any person acting on behalf of the customer is:

a politically exposed person; or

a person designated for targeted financial sanctions;

the nature and purpose of the business relationship or occasional transaction;

any other matter relating to the customer that is specified in the AML/CTF Rules.

if the customer is an individual—take reasonable steps to establish that the customer is the person the customer claims to be;

identify the ML/TF risk of the customer, based on KYC information about the customer that is reasonably available to the reporting entity before commencing to provide the designated service;

collect KYC information about the customer that is appropriate to the ML/TF risk of the customer;

verify, using reliable and independent data, such of the KYC information referred to in paragraph (c) as is appropriate to the ML/TF risk of the customer.

the reporting entity’s ML/TF risk assessment;

the kind of customer to whom the designated services will be provided;

the kinds of designated services provided, or proposed to be provided, by the reporting entity to the customer;

the delivery channels by which the reporting entity’s designated services are or will be provided to the customer;

the countries with which the reporting entity deals, or will deal, in providing its designated services to the customer;

the matters (if any) specified in the AML/CTF Rules.

specify requirements that must be complied with for the purposes of establishing on reasonable grounds the matters in subsection (2);

set out circumstances in which a reporting entity is taken to comply with a matter mentioned in that subsection.

customers in relation to whom simplified due diligence measures may be taken in accordance with section 31; and

customers in relation to whom enhanced customer due diligence measures must be undertaken in accordance with section 32.

circumstances specified in the AML/CTF Rules apply; and

the reporting entity determines on reasonable grounds that commencing to provide the designated service to the customer before subsection 28(1) is complied with in relation to the customer is essential to avoid interrupting the ordinary course of business; and

the reporting entity has AML/CTF policies to comply with subsection 28(1) in relation to the customer:

as soon as reasonably practicable after commencing to provide the designated service to the customer; and

within the period (if any) specified in the AML/CTF Rules; and

the reporting entity determines on reasonable grounds that any additional risk of money laundering, terrorism financing or proliferation financing associated with complying with subsection 28(1) in relation to the customer after commencing to provide the designated service to the customer is low; and

the reporting entity implements AML/CTF policies to mitigate and manage the associated risks; and

the reporting entity complies with the requirements (if any) specified in the AML/CTF Rules.

monitor for unusual transactions and behaviours of customers that may give rise to a suspicious matter reporting obligation; and

if the reporting entity has a business relationship with a customer—review and, where appropriate, update the reporting entity’s identification and assessment of the ML/TF risk of the customer in the following circumstances:

if there is a significant change to any of the matters mentioned in subsection 28(4);

if there are unusual transactions and behaviours in relation to the customer that may give rise to a suspicious matter reporting obligation;

circumstances specified in the AML/CTF Rules; and

if the reporting entity has a business relationship with a customer—review and, where appropriate, update and reverify KYC information relating to the customer at a frequency appropriate to the ML/TF risk of the customer, and if either of the following occur:

the reporting entity has doubts about the adequacy or veracity of the KYC information relating to the customer;

circumstances specified in the AML/CTF Rules; and

if the reporting entity has a business relationship with a customer that is a pre-commencement customer—monitor for significant changes in the nature and purpose of the business relationship that may result in the ML/TF risk of the customer being medium or high; and

comply with any other requirements specified in the AML/CTF Rules.

specify requirements that must be complied with in relation to the matters mentioned in subsection (2);

set out circumstances in which a reporting entity is taken to comply with a matter mentioned in that subsection.

customers in relation to whom simplified due diligence measures may be taken in accordance with section 31; and

customers in relation to whom enhanced customer due diligence measures must be undertaken in accordance with section 32.

unusually large or complex transactions relating to the customer;

transactions and behaviours that are part of an unusual pattern of transactions and behaviours relating to the customer;

transactions and behaviours that have no apparent economic or lawful purpose;

transactions and behaviours that are inconsistent with what the reporting entity reasonably knows about any of the following:

the customer;

the nature and purpose of the business relationship;

the ML/TF risk of the customer;

where relevant, the customer’s source of funds or source of wealth.

the ML/TF risk of the customer is low; and

section 32 does not apply to the customer; and

the reporting entity complies with the requirements specified in the AML/CTF Rules.

the ML/TF risk of the customer is high;

if:

a suspicious matter reporting obligation arises for the reporting entity in relation to the customer; and

the reporting entity proposes to continue to provide a designated service or designated services to the customer;

the customer, any beneficial owner of the customer, any person on whose behalf the customer is receiving the designated service, or any person acting on behalf of the customer, is a foreign politically exposed person;

the customer, any beneficial owner of the customer, any person on whose behalf the customer is receiving the designated service, or any person acting on behalf of the customer, is:

an individual who is physically present in a high risk jurisdiction for which the international body known as the Financial Action Task Force has called for enhanced due diligence to be applied; or

a body corporate or legal arrangement that was formed in a high risk jurisdiction for which the international body known as the Financial Action Task Force has called for enhanced due diligence to be applied;

(e) the designated service provided or proposed to be provided to the customer is provided or proposed to be provided as part of a nested services relationship;

the customer is of a kind specified in the AML/CTF Rules.

the reporting entity commenced before 12 December 2007 to provide a designated service covered by an item of table 1, 2 or 3 in section 6 of this Act to the customer; or

(b) the business relationship between the reporting entity and the customer involved the provision of only any of the following designated services in section 6 of this Act as at the start of 1 July 2026:

designated services covered by item 2 of table 2 in section 6;

designated services covered by table 5 in section 6;

designated services covered by table 6 in section 6.

a suspicious matter reporting obligation arises for the reporting entity in relation to the customer; or

there is a significant change in the nature and purpose of the business relationship with the customer which results in the ML/TF risk of the customer being medium or high.

are reasonably necessary to demonstrate compliance with the reporting entity’s obligations under Part 2; and

are in the English language, or in a form in which the records are readily accessible and readily convertible into writing in the English language.

sufficient and accurate records which demonstrate the type and content of the data collected by the reporting entity in relation to the customer for the purposes of complying with section 28 or 30; and

records of any analysis, identification or assessment of ML/TF risk, or decision making, undertaken by the reporting entity in relation to the customer for the purposes of complying with section 28 or 30.

the customer due diligence is under section 28 (undertaking initial customer due diligence) or 30 (undertaking ongoing customer due diligence).

the customer due diligence is under section 28 or 30.

subsection 111(2) (which deals with retaining records relating to customer due diligence);

in complying with subsection 28(1) or 30(1); or

land in Australia or a foreign country; and

land the subject of a subdivision arrangement.

any of the following interests in land in Australia:

a fee simple interest;

a leasehold interest;

a land use entitlement; or

an interest, estate, right or entitlement in land in a foreign country that:

is equivalent to an interest mentioned in paragraph (a); or

otherwise confers ownership rights on the holder of that interest, estate; right or entitlement; or

an interest prescribed by the regulations;

incorporeal hereditaments;

the interest of a mortgagee;

a leasehold interest under a lease for a term (excluding options for further terms) of 30 years or less;

any other interest, estate, right or entitlement in land in a foreign country that is equivalent to an interest mentioned in paragraph (d), (e) or (f);

an interest prescribed by the regulations.

an arrangement:

under which the title (whether freehold or leasehold) to a portion of land is subdivided into separate freehold or leasehold titles relating to smaller portions of land within the first-mentioned portion; and

under which property that is common between the owners or occupiers of the smaller portions is owned or managed by a single body corporate (however described); and

that exists under a law, of the State or Territory in which the land is located, relating to “strata titles”, “community titles”, “unit titles”, “cluster titles” or something referred to by another term reflecting the features referred to in subparagraphs (i) and (ii); or

an arrangement under which:

a body corporate owns an interest (whether freehold or leasehold) in land; and

under the constitution of the body corporate, a holder of shares in the body has, or may be granted, a right to occupy or use some or all of the land, whether the right is by way of a lease or licence or otherwise; or

an arrangement in relation to which all of the following subparagraphs apply:

under the arrangement, an interest (whether freehold or leasehold) in land is held on trust;

under the terms of the trust, a holder of an interest in the trust has, or may be granted, a right to occupy or use part of the land, whether the right is by way of a lease or licence or otherwise;

the trustee of the trust is a body corporate;

there are at least 2 distinct parts of the land for which subparagraph (ii) is satisfied.

is in the form of a bar, coin, ingot, plate, wafer or like form of mass; and

bears a mark or characteristic generally accepted as identifying and guaranteeing the fineness and quality of the gold, silver, platinum or palladium; and

is usually traded at a price that is determined by reference to the spot price of the gold, silver, platinum or palladium.

gold;

silver;

platinum;

iridium;

osmium;

palladium;

rhodium;

ruthenium;

a substance prescribed by the AML/CTF Rules;

an alloy substance with at least 2% in weight of any of the substances mentioned in paragraphs (a) to (i).

has gem quality; and

has market-recognised beauty, rarity and value.

beryl;

corundum;

diamond;

garnet;

jadeite jade;

opal;

pearl;

topaz;

a substance prescribed by the AML/CTF Rules.

jewellery;

a watch;

an object of personal adornment not otherwise covered by paragraph (a) or (b);

an article of goldsmiths’ or silversmiths’ wares.

an express trust; or

a partnership; or

a joint venture; or

an unincorporated association; or

an arrangement, including a foreign arrangement such as a fiducie, treuhand or fideicomiso, similar to an arrangement mentioned in any of the above paragraphs.

(a) holds shares or an interest in the body corporate or legal arrangement on behalf of another person (the nominator); and

exercises voting rights associated with the shares or interest according to the instructions of the nominator, or receives dividends on behalf of the nominator, or both.

the service is not specified in the AML/CTF Rules

the money, accounts, securities, securities accounts, virtual assets or other property being held or managed is payment by the person for the provision of goods or services by the business;

both:

the business does not provide any designated services other than the services referred to in item 3 of the table in subsection (5B); and

the money, accounts, securities, securities accounts, virtual assets or other property being held or managed is for payments reasonably incidental to the provision by the business of a service that is not a designated service;

the money, accounts, securities, securities accounts, virtual assets or other property being held or managed is to be received or payable under an order of a court or tribunal;

the service provided by the business is the receipt or disbursement of a payment mentioned in subsection (5D);

the service is any other designated service;

a circumstance specified in the AML/CTF Rules.

a payment to or from any of the following:

a government body;

a court or tribunal of the Commonwealth, a State, a Territory or a foreign country;

a public international organisation;

a person who is licensed under a law of the Commonwealth, a State or a Territory to provide insurance, including self-insured licensees; or

a payment of a kind specified in the AML/CTF Rules.

acting, or arranging for another person to act, in a fiduciary capacity pursuant to, or as a result of, an order of a court or a tribunal; or

(b) acting as the trustee of a regulated debtor’s estate (within the meaning of Schedule 2 to the Bankruptcy Act 1966); or

a circumstance specified in the AML/CTF Rules.

Part 1A (which deals with AML/CTF programs);

Part 2 (which deals with customer due diligence);

Part 3 (which deals with reporting obligations);

Divisions 2 to 6 of Part 10 (which deal with record keeping).

(a) the person provides, or commences to provide, a designated service covered by item 2 of table 2, or an item of table 5 or 6, in Anti-Money Laundering and Counter-Terrorism Financing Act 2006 at any time before 1 July 2026; andsection 6 of the

the person does not, as at that time, provide, or commence to provide, any other designated services.

is in an approved form; and

specifies the basis on which the information or document is privileged from being given or produced on the ground of legal professional privilege; and

contains any other information required by the approved form; and

is accompanied by any documents required by the approved form.

a person is given a notice under subsection (1) in relation to one or more documents; and

the person reasonably believes that the documents are privileged from being produced on the ground of legal professional privilege;

if:

paragraph (1)(d), (e), (f), (i) or (j) applies; and

the reporting entity reasonably believes that some (but not all) of the information required to be contained in the report may be privileged from being given on the ground of legal professional privilege; and

the privilege, if it exists, belongs to a person other than the reporting entity;

if the reporting entity reasonably believes that some (but not all) of the information required to be contained in the report about the matter is privileged from being given on the ground of legal professional privilege—be accompanied by an LPP form in relation to the information; and

if the reporting entity reasonably believes that information required to be contained in the report about the transaction is privileged from being given on the ground of legal professional privilege—be accompanied by an LPP form in relation to the information; and

a person is given a notice under subsection (1) in relation to information or a document; and

the person reasonably believes that the information or document is privileged from being given or produced on the ground of legal professional privilege;

subsection (6A);

a person is given a notice under subsection (2) in relation to information or a document; and

the person reasonably believes that the information or document is privileged from being given or produced on the ground of legal professional privilege;

if the reporting entity reasonably believes that information relating to the matter is privileged from being given on the ground of legal professional privilege—be accompanied by an LPP form in relation to the information; and

a person is given a request under subsection (1) in relation to information; and

the person reasonably believes that the information is privileged from being given on the ground of legal professional privilege;

a person is given a request under subsection (1) in relation to information; and

the person reasonably believes that the information is privileged from being given on the ground of legal professional privilege;

subsection (5);

subsection (6);

a person is given a notice under subsection (2) in relation to information, a document or a copy of a document; and

the person reasonably believes that the information, document or copy is privileged from being given or produced on the ground of legal professional privilege;

subsection 26Q(2A) (which deals with providing an LPP form in relation to certain further information requested);

subsection 49(4) (which deals with providing an LPP form in relation to information or documents requested);

subsection 49B(6A) (which deals with providing an LPP form in relation to information or documents requested);

subsection 50(4) (which deals with providing certain reports about a card issuer’s response, or lack of response to the AUSTRAC CEO);

subsection 50(5) (which deals with providing certain reports about a card issuer’s response, or lack of response to the Commissioner of Taxation);

subsection 75N(3) (which deals with providing an LPP form in relation to certain further information requested);

subsection 76Q(3) (which deals with providing an LPP form in relation to certain further information requested);

subsection 202(5) (which deals with reporting entities providing an LPP form in relation to certain information or documents requested by notice).

a person is given a notice under subsection (2) in relation to information or a document; and

the person reasonably believes that the information or document is privileged from being given or produced on the ground of legal professional privilege;

set out the effect of subsections 202(5) and (6) (information or documents privileged from being given or produced on the ground of legal professional privilege); and

the information would be privileged from being given on the ground of legal professional privilege; or

the document would be privileged from being produced on the ground of legal professional privilege.

arrangements for making or dealing with claims or assertions of legal professional privilege in relation to the exercise of other powers under this Act, including the use of LPP forms;

facilitating the resolution of disputes in relation to legal professional privilege.

(a) definition of AGO;

(b) definition of ASD;

(c) definition of ASIO;

(d) definition of ASIS;

(e) definition of Attorney-General’s Department;

(f) definition of corporate group;

(g) definition of Department of Foreign Affairs and Trade;

(h) definition of DIO;

(i) definition of ONI.

the person is or has been:

a reporting entity; or

an officer, employee or agent of a reporting entity; or

required by a notice under subsection 49(1) to give information or produce documents; or

required by notice under subsection 49B(2) to give information or produce documents; and

the person discloses information to another person (other than an AUSTRAC entrusted person); and

the information is covered by subsection (2); and

the disclosure of the information would or could reasonably be expected to prejudice an investigation:

of an offence against a law of the Commonwealth or of a State or Territory; or

(ii) for the purposes of the Proceeds of Crime Act 2002 or regulations under that Act; or

(iii) for the purposes of a law of a State or Territory that corresponds to the Proceeds of Crime Act 2002 or regulations under that Act.

that a reporting entity has given, or is required to give, a report under subsection 41(2);

a report given under, or prepared for the purposes of, subsection 41(2);

a copy of such a report;

(d) a document purporting to set out information (including the formation or existence of a suspicion) contained in such a report;

a person is or has been required by a notice under subsection 49(1) to give information or produce a document;

a person has given information or produced a document in response to a notice under subsection 49(1);

a person is or has been required by a notice under subsection 49B(2) to give information or produce a document;

a person has given information or produced a document in response to a notice under subsection 49B(2);

(i) information referred to in paragraph 16(5A)(a), (b) or (c) or (5AA)(a) or (b) of the Financial Transaction Reports Act 1988, as in force immediately before its repeal.

the person is a reporting entity, or an officer, employee or agent of a reporting entity, that is:

a legal practitioner (however described); or

a partnership or company that carries on a business of using legal practitioners (however described) to supply professional legal services; or

a qualified accountant; or

a partnership or company that carries on a business of using qualified accountants to supply professional accountancy services; or

a person specified in the AML/CTF Rules; and

the information relates to the affairs of a customer of the reporting entity; and

the person makes the disclosure, in good faith, for the purposes of dissuading the customer from engaging in conduct that constitutes, or could constitute, an offence against a law of the Commonwealth or of a State or Territory.

the disclosure is made to another reporting entity; and

the disclosure is made for the purpose of detecting, deterring, or disrupting money laundering, the financing of terrorism, proliferation financing, or other serious crimes; and

the conditions prescribed by the regulations are met.

both of the following apply:

the making of the record, disclosure or use is for the purposes of, or in connection with, the performance or exercise of the person’s functions, duties or powers as an official of a Commonwealth, State or Territory agency;

the disclosure is not to the government of a foreign country or to a foreign agency; or

is either of the following:

a designated service covered by item 46A, 50A, 50B or 50C of table 1 in section 6;

a designated service covered by item 29 or 30 of that table, if the transfer of value involves the transfer of a virtual asset (whether or not it also involves the transfer of money or property); and

is not provided by a financial institution or a casino; and

is not of a kind specified in the AML/CTF Rules.

that stores monetary value other than physical currency; or

that gives access to monetary value stored in a form other than physical currency; or

that is prescribed by the AML/CTF Rules;

a debit card or a credit card; or

an account for the purposes of items 1 to 3 of table 1 in section 6 or items 11 to 13 of table 3 in section 6; or

unless prescribed by the AML/CTF Rules for the purposes of paragraph (c):

a thing that is intended to give access to monetary value in a debit card or credit card account; or

a gaming chip or token, or a betting instrument; or

a virtual asset (whether or not pegged to any currency); or

a thing that stores, or gives access to, virtual assets (whether or not pegged to any currency); or

a card or other thing that is only used to store or access monetary value for the purposes of purchasing an entry into a lottery or redeeming winnings in respect of a lottery, where the monetary value is denominated in a currency, or is pegged by its issuer to a currency, stored in a form other than physical currency; or

a thing that, under the AML/CTF Rules, is taken not to be a stored value card.

(a) means a service in which virtual assets or private keys are controlled or managed for or on behalf of a person (the customer) or another person nominated by the customer under an arrangement between the provider of the service and the customer, or between the provider of the service and another person with whom the customer has an arrangement (whether or not there are also other parties to any such arrangement); but

does not include a service of a kind prescribed by the AML/CTF Rules.

functions as any of the following:

a medium of exchange;

a store of economic value;

a unit of account;

an investment; and

is not issued by or under the authority of a government body; and

may be transferred, stored or traded electronically.

enables a person to vote on the management, administration or governance of arrangements connected with a digital representation of value; and

is not issued by or under the authority of a government body; and

may be transferred, stored or traded electronically.

money;

a digital representation of value used exclusively within an electronic game;

customer loyalty or reward points;

a digital representation of value that is:

similar to a thing mentioned in paragraph (b) or (c); and

not intended by the issuer to be convertible into another digital representation of value or money;

a digital representation of value prescribed by the AML/CTF Rules.

an account relating to a *virtual asset, including:

an account representing an amount, or the value, of a virtual asset; and

an account provided as part of a *registrable virtual asset service.

in the case of an account relating to a virtual asset—the balance of the account is expressed as an amount, or the value, of the virtual asset, or an amount of Australian currency or any other currency.

a bill of exchange;

a cheque;

a promissory note;

a bearer bond;

a traveller’s cheque;

a money order, postal order or similar order;

a negotiable instrument not covered by any of the above paragraphs.

is endorsed without restriction; or

does not express a payee; or

is payable to a fictitious person; or

is otherwise in such form that title to the instrument passes on delivery.

(a) definition of complete payer information;

(b) definition of designated remittance arrangement;

(c) definition of electronic funds transfer instruction;

(d) definition of funds transfer chain.

(a) definition of multiple-institution person-to-person electronic funds transfer instruction;

(b) definition of multiple-institution same-person electronic funds transfer instruction;

(c) definition of non-financier.

(a) definition of payee;

(b) definition of payer.

is covered by item 29 or 30 of table 1 in section 6; and

is provided by a person (other than a financial institution or casino) at or through a permanent establishment of the person in Australia; and

does not involve a transfer of virtual assets; and

is not of a kind specified in the AML/CTF Rules.

(a) definition of remittance arrangement;

(b) definition of required transfer information;

(c) definition of same-institution person-to-person electronic funds transfer instruction;

(d) definition of same-institution same-person electronic funds transfer instruction;

(e) definition of tracing information.

a transfer of physical currency or other tangible property; or

a transfer of a kind specified in the AML/CTF Rules.

(a) definition of transferor entity;

(b) definition of ultimate transferee entity;

(c) definition of unique reference number.

criteria or other requirements that a person must satisfy to be an ordering institution;

circumstances in which a person is an ordering institution.

a person who transfers value in circumstances where the transfer is reasonably incidental to the provision of another service unless:

the person is a financial institution; or

the person is providing an international value transfer service incidentally to a designated service covered by item 50, 50A or 50B of table 1 in section 6; or

the person is providing an international value transfer service incidentally to a designated service covered by table 3 in section 6;

a person specified in the AML/CTF Rules.

criteria or other requirements that a person must satisfy to be a beneficiary institution;

circumstances in which a person is a beneficiary institution.

a person who makes value available in circumstances where the making available of the value is reasonably incidental to the provision of another service unless:

the person is a financial institution;

the person is providing an international value transfer service incidentally to a designated service covered by item 50, 50A or 50B of table 1 in section 6;

the person is providing an international value transfer service incidentally to a designated service covered by table 3 in section 6;

a person specified in the AML/CTF Rules.

in the course of carrying on a business, receives and passes on a transfer message for a transfer of value in a value transfer chain; or

is specified in the AML/CTF Rules.

a person who solely provides the infrastructure that permits persons to send transfer messages for a transfer of value to another person in the value transfer chain;

a person who is specified in the AML/CTF Rules.

the ordering institution;

each intermediary institution (if any) between the ordering institution and the beneficiary institution;

the beneficiary institution.

the payer and the payee in relation to a transfer of value may be the same person; and

the ordering institution and the beneficiary institution in relation to a transfer of value may be the same person.

collect the information specified in the AML/CTF Rules; and

if required by the AML/CTF Rules—verify the information specified in the AML/CTF Rules in accordance with sections 28 and 30 (as applicable).

the information specified by the AML/CTF Rules for the purposes of paragraph (2)(a);

the information specified by the AML/CTF Rules for the purposes of subsection (3).

whether it has received the information specified in the AML/CTF Rules relating to the transfer of value; and

whether the information received about the payee is accurate.

the beneficiary institution:

detects that it has not received all of the information mentioned in paragraph (2)(a); and

has not otherwise obtained the information; or

the beneficiary institution detects that some or all of the information received or otherwise obtained about the payee is not accurate;

refuse to make the transferred value available to the payee;

take such other action as the beneficiary institution determines.

refuse to pass on the transfer message for the transfer of value;

take such other action as the intermediary institution determines.

information, of a kind specified in the AML/CTF Rules, that is received from the previous institution in the value transfer chain; or

information obtained in accordance with the intermediary institution’s AML/CTF program that is relevant to the transfer.

a custodial wallet controlled by a person who is licensed or registered under a law that gives effect to the FATF Recommendations; or

a custodial wallet controlled by a person who is not required to be licensed or registered under a law that gives effect to the FATF Recommendations; or

a custodial wallet controlled by a person who is required to be licensed or registered under a law that gives effect to the FATF Recommendations, but is not so licensed or registered; or

a self-hosted wallet controlled by the payee.

a person who is licensed or registered under a law that gives effect to the FATF Recommendations; or

a person who is not required to be licensed or registered under a law that gives effect to the FATF Recommendations.

who is required to be licensed or registered under a law that gives effect to the FATF Recommendations; but

is not so licensed or registered.

a custodial wallet controlled by a person who is licensed or registered under a law that gives effect to the FATF Recommendations; or

a custodial wallet controlled by a person who is not required to be licensed or registered under a law that gives effect to the FATF Recommendations; or

a custodial wallet controlled by a person who is required to be licensed or registered under a law that gives effect to the FATF Recommendations, but is not so licensed or registered; or

a self-hosted wallet controlled by the payer.

the virtual asset wallet from which the virtual asset has been transferred is a custodial wallet controlled by a person who is required to be licensed or registered under a law that gives effect to the FATF Recommendations; and

the person is not so licensed or registered.

either:

the ordering institution has established on reasonable grounds that the beneficiary institution is not capable of receiving the information securely; or

the ordering institution reasonably believes that there is a risk that the beneficiary institution is not capable of safeguarding the confidentiality of the information; and

the ordering institution makes and keeps a record of the reasons for not passing on the information.

the beneficiary institution has established on reasonable grounds that an institution in the value transfer chain is not capable of passing on the information securely; and

in accordance with the beneficiary institution’s AML/CTF program, the beneficiary institution appropriately identifies, assesses, mitigates and manages the risks of money laundering, financing of terrorism and proliferation financing that the beneficiary institution may reasonably face in providing the designated service.

to a specified kind of designated service; or

to a transfer of value that occurs in specified circumstances.

the person is any of the following:

a qualified accountant;

a reporting entity that uses qualified accountants to supply professional accounting services;

a legal practitioner (however described);

a reporting entity that uses legal practitioners (however described) to supply professional legal services; and

the person provides a designated service covered by item 3 of table 6 in section 6 for the purposes of an escrow agreement.

subsections 64(2), (3) and (5) (which deal with obligations of ordering institutions relating to transfers of value);

subsections 66(4) and (5) (which deal with obligations of intermediary institutions relating to transfers of value);

subsections 66A(4) and (7) (which deal with obligations of ordering and beneficiary institutions relating to virtual asset transfers);

the service is covered by item 29 or 30 of table 1 in section 6; and

either:

the value to be transferred is in Australia and, as a result of the provision of the service, the value will be in a foreign country; or

the value to be transferred is in a foreign country and, as a result of the provision of the service, the value will be in Australia.

the reporting entity commences to provide an international value transfer service at or through a permanent establishment of the reporting entity in Australia; and

such other conditions (if any) as are set out in the AML/CTF Rules are satisfied.

reasonably determines that the transfer of value will not occur; and

takes reasonable steps to ensure that the transfer of value will not occur.

be in accordance with the approved form, or in a manner specified in the AML/CTF Rules; and

contain the information required by the AML/CTF Rules.

the intermediary institution is an intermediary institution that provides, or will provide, the designated service covered by item 31 of table 1 in section 6; and

the reporting entity has entered into a written agreement or arrangement with the intermediary institution; and

the written agreement or arrangement enables the intermediary institution to comply with the obligation.

the reporting entity commences to provide a designated service covered by item 29 or 30 of table 1 in section 6 at or through a permanent establishment of the reporting entity in Australia; and

the service involves:

receiving virtual assets transferred from a self-hosted virtual asset wallet; or

transferring virtual assets to a self-hosted virtual asset wallet; and

the person who controls the self-hosted virtual asset wallet has not been verified by the reporting entity in accordance with the reporting entity’s AML/CTF program.

be in accordance with the approved form, or in a manner specified in the AML/CTF Rules; and

contain the information required by the AML/CTF Rules.

timeframes within which requests to amend or withdraw a report may or must be made;

timeframes within which a report must be amended or withdrawn if a request is accepted;

the process for making and deciding requests to amend or withdraw a report;

the consequences for amending or withdrawing a report.

section 46 (reports of international value transfer services);

section 46A (reports of transfers of value involving unverified self-hosted virtual asset wallets);

subsection 46(2) or (5) (which deals with reporting about international value transfer services);

subsection 46A(2) (which deals with reporting about transfers of value involving unverified self-hosted virtual asset wallets);

a delegate of the AUSTRAC CEO; and

a consultant engaged under subsection 225(1) to perform services as an examiner.

a record of the examination:

that is made in writing; or

as reduced to writing; or

a part of such a record.

to produce to the AUSTRAC CEO, within the period and in the manner specified in the notice, any such documents; or

to appear before an examiner for examination under this Division on oath or affirmation and to answer questions, and to produce any such documents.

compliance with this Act, the regulations or the AML/CTF Rules; or

(b) an offence against the Crimes Act 1914 or the Criminal Code that relates to this Act, the regulations or the AML/CTF Rules.

to produce to the AUSTRAC CEO, within the period and in the manner specified in the notice, any such documents; or

to appear before an examiner at the time and place specified in the notice:

for examination under this Division, on oath or affirmation and to answer questions; and

to produce any such documents.

if paragraph (2)(b) applies—state the general nature of the matter to which the questions will relate; and

in any case set out the effect of subsections (4) and 172F(1).

require the person to either take an oath or make an affirmation; and

administer an oath or affirmation to the person.

compliance with this Act, the regulations or the AML/CTF Rules; or

(b) an offence against the Crimes Act 1914 or the Criminal Code that relates to this Act, the regulations or the AML/CTF Rules.

the person is present at the examination; and

the person is not:

the examiner or examinee; or

a member of the staff of AUSTRAC approved by the examiner; or

entitled to be present by virtue of a direction under subsection (1) or subsection 172F(1).

at one or more physical venues; or

at one or more physical venues and using virtual examination technology that allows a person to appear at all or part of the examination without being physically present at the examination; or

using virtual examination technology only.

at one or more physical venues and using virtual examination technology; or

using virtual examination technology only.

at more than one physical venue; or

at one or more physical venues and using virtual examination technology; or

using virtual examination technology only;

address the examiner; and

examine the examinee;

the examiner may require the examinee to read it, or to have it read to the examinee, and may require the examinee to sign it; and

the examiner must, if requested in writing by the examinee to give to the examinee a copy of the written record, comply with the request without charge but subject to such conditions (if any) as the examiner imposes.

the AUSTRAC CEO gives a copy of the whole or a part of a written record of an examination to a person under subsection (1); and

the person, or any other person who has possession, custody or control of the copy or a copy of it:

uses the copy or a copy of it; or

publishes, or communicates to another person, the copy, a copy of it, or any part of the copy’s contents;

a copy of the whole or a part of a record is given to a person under subsection 172G(2) or 172H(3) subject to conditions; and

the first person:

is the person referred to in paragraph (a); or

has possession, custody or control of the copy or a copy of it; and

the first person engages in conduct; and

the first person’s conduct breaches the condition.

to answer a question; or

to produce a document; or

to sign a record;

before making an oral statement in answer to a question, or signing a record, in accordance with a requirement made under this Division, the individual claims that the statement or the signing of the record (as the case may be) might tend to incriminate the individual or make the individual liable to a penalty; and

the statement or the signing of the record (as the case may be) might, in fact, tend to incriminate the individual or make the individual so liable.

civil or criminal proceedings; or

a proceeding for the imposition of a penalty;

in the case of the making of a statement—the falsity of the statement; or

in the case of the signing of a record—the falsity of any statement contained in the record.

because of subsection 172K(3), the statement is not admissible in evidence against the person in the proceeding; or

the statement is not relevant to the proceeding and the person objects to the admission of evidence of the statement; or

the statement is qualified or explained by another statement made at the examination, evidence of the other statement is not tendered in the proceeding, and the person objects to the admission of evidence of the first-mentioned statement; or

the statement discloses matter in respect of which the person could claim legal professional privilege in the proceeding if this subsection did not apply in relation to the statement, and the person objects to the admission of evidence of the statement.

a proceeding in a court; or

a proceeding or hearing before, or an examination by or before, a tribunal in Australia or any other body, authority or person in Australia having power, by law or by consent of parties, to hear, receive or examine evidence;

if it appears to the court or tribunal that:

the absent witness is dead or is unfit, because of physical or mental incapacity, to attend as a witness; or

the absent witness is outside the State or Territory in which the proceeding is being heard and it is not reasonably practicable to secure the witness’ attendance; or

all reasonable steps have been taken to find the absent witness but the witness cannot be found; or

if it does not so appear to the court or tribunal—unless another party to the proceeding requires the party tendering evidence of the statement to call the absent witness as a witness in the proceeding and the tendering party does not so call the absent witness.

a proceeding in a court; or

a proceeding or hearing before, or an examination by or before, a tribunal in Australia or any other body, authority or person in Australia having power, by law or by consent of parties, to hear, receive or examine evidence;

how long after the matters to which it related the statement was made; and

any reason the person may have had for concealing or misrepresenting a material matter; and

any other circumstances from which it is reasonable to draw an inference about how accurate the statement is.

evidence that would, if the person had been so called, have been admissible in the proceeding for the purpose of destroying or supporting the person’s credibility is so admissible; and

evidence is admissible to show that the statement is inconsistent with another statement that the person has made at any time.

will apply to have admitted in evidence in the proceeding specified statements made at an examination under this Division; and

for that purpose, will apply to have evidence of those statements admitted in the proceeding.

a proceeding in a court; or

a proceeding or hearing before, or an examination by or before, a tribunal in Australia or any other body, authority or person in Australia having power, by law or by consent of parties, to hear, receive or examine evidence;

stating that the other party objects to specified statements being admitted in evidence in the proceeding; and

specifies, in relation to each of those statements, the grounds of objection.

the notice under subsection (1) and any writing that subsection (3) required to accompany that notice; and

the notice under subsection (4).

determine the objections as a preliminary point before the hearing of the proceeding begins; or

defer determination of the objections until the hearing.

the other party has, in accordance with subsection (4), objected to the statement being so admitted; or

the court or tribunal or other body gives the other party leave to object to the statement being so admitted.

obtaining or analysing information to support efforts to combat money laundering, terrorism financing, proliferation financing or other serious crimes; or

identifying trends, patterns, threats or vulnerabilities associated with money laundering, terrorism financing, proliferation financing or other serious crimes;

to give to the AUSTRAC CEO, within the period and in the manner specified in the notice, any such information; or

to produce to the AUSTRAC CEO, within the period and in the manner specified in the notice, any such documents.

the AUSTRAC CEO considers that specifying a shorter period is necessary; and

the shorter period specified is reasonable in the circumstances.

subsection (7);

section 136;

section 137.

obtaining or analysing information to support efforts to combat money laundering, terrorism financing, proliferation financing or other serious crimes; or

identifying trends, patterns, threats or vulnerabilities associated with money laundering, terrorism financing, proliferation financing or other serious crimes;

to give to the AUSTRAC CEO any such information; or

to produce to the AUSTRAC CEO any such documents.

subsection (5);

section 136;

section 137.

that the first person is or has been required by a notice under subsection 49B(2) to give information or produce a document; or

that the information has been given or the document has been produced.

an offence provision of this Act or the regulations; or

a civil penalty provision of this Act or the regulations; or

(c) an offence provision of the Crimes Act 1914 or the Criminal Code, to the extent that it relates to this Act.

(iv) proceedings for an offence against a provision covered by the definition of financing of terrorism in section 5; or

(v) proceedings for an offence against a provision covered by the definition of proliferation financing in section 5.

subsection 49B(6) (which deals with complying with a notice requiring certain information or documents);

a thing of a kind commonly known as a credit card;

a similar thing intended for use by a person in obtaining access to an account that is held by the person for the purpose of obtaining money, goods or services on credit;

a thing of a kind that persons carrying on business commonly issue to their customers, or prospective customers, for use in obtaining goods or services from those persons on credit;

a thing that may be used as a thing referred to in paragraph (a), (b) or (c).

a thing (whether real or virtual) that is intended for use by a person in obtaining access to an account that is held by the person for the purpose of withdrawing or depositing physical currency or obtaining goods or services; or

a thing (whether real or virtual) that may be used as a thing referred to in paragraph (a).

that is issued by or under the authority of a government body; and

that is intended to function as money.

the Institute of Public Accountants; or

(a) that a specified thing is a security; or

(b) that a specified thing is not a security.

(a) that a specified thing is a derivative; or

(b) that a specified thing is not a derivative.

an account which has a nil balance; and

an account in relation to which no transactions have been allowed.

(a) is a participant of a designated payment system under the Payment Systems (Regulation) Act 1998; and

pays, or accepts liability to pay, a merchant (either directly or through another person) for goods or services obtained, or to be obtained, by another person from the merchant in a credit card transaction.

(a) is a participant of a designated payment system under the Payment Systems (Regulation) Act 1998; and

issues a credit card to a customer; and

either:

receives payment from the customer for amounts owed by the customer, under the terms governing the credit card, for credit card transactions; or

pays, or accepts liability to pay, a credit card acquirer (either directly or through another person) for amounts paid or payable by the acquirer to a merchant for the customer’s credit card transactions.

(a) means a designated service covered by an item of table 3 in Interactive Gambling Act 2001; andsection 6 of this Act that is provided to a customer using any of the means referred to in paragraph 5(1)(b) of the 

includes an excluded wagering service (within the meaning of that Act), but does not include a telephone betting service (within the meaning of that Act).

a credit card issuer; or

a credit card acquirer; or

a person specified in the AML/CTF Rules

a credit card issuer; or

a credit card acquirer; or

a person specified in the AML/CTF Rules

a credit card issuer; or

a credit card acquirer; or

a person specified in the AML/CTF Rules

the service is not provided in the course of carrying on a business that provides short-term accommodation for travellers; and

the service is not specified in the AML/CTF Rules

a reporting entity receives a keep open notice in relation to a customer; and

the keep open notice is in force.

an offence against a law of the Commonwealth, or a law of a State or Territory, that is punishable by imprisonment for 2 years or more; or

an offence against a law of a foreign country that involves an act or omission that, if it had occurred in Australia, would have constituted an offence covered by paragraph (a).

the head of an agency mentioned in subsection (4); or

a statutory office holder of an agency mentioned in subsection (4); or

an officer or employee of an agency mentioned in subsection (4) that:

is an SES employee or acting SES employee in the agency; or

holds or is acting in a position in the agency that is equivalent to or higher than a position occupied by an SES employee; or

holds or is acting in a position that is prescribed by the AML/CTF Rules for the purposes of this paragraph.

the Australian Border Force;

the Australian Crime Commission;

the Australian Federal Police;

the National Anti-Corruption Commission;

(e) the New South Wales Crime Commission;

the police force or police service of a State or the Northern Territory;

a Commonwealth, State or Territory agency prescribed by the AML/CTF Rules.

be in the form prescribed by the AML/CTF Rules for the purposes of this paragraph; and

contain such information, and be accompanied by such documents, as is required by the AML/CTF Rules.

starting on the day specified in the notice; and

ending on the earlier of:

the day that is 6 months after the day specified in the notice; and

if the investigation to which the notice relates has ended—the day the agency that issued the notice notifies the reporting entity and the AUSTRAC CEO that the relevant investigation has ended.

the extension notice is issued to the reporting entity before the expiry of the keep open notice; and

subject to subsection (8), the keep open notice has not previously been extended more than once under this subsection; and

the senior member of the agency reasonably believes that the continued provision of a designated service by the reporting entity to the customer would assist in the investigation by the agency of a serious offence.

the keep open notice has previously been extended at least twice under subsection (7); and

a senior member of the agency that issued the keep open notice applies to the AUSTRAC CEO in the form prescribed by the AML/CTF Rules for the purposes of this paragraph; and

the AUSTRAC CEO is satisfied that the continued provision of a designated service by the reporting entity to the customer would assist in the investigation by the agency of a serious offence; and

the AUSTRAC CEO gives notice, in writing, to the agency that paragraph (7)(b) does not apply in relation to the extension notice.

a keep open notice under subsection 39B(1); or

an extension notice under subsection 39B(7).

a keep open notice issued under subsection 39B(1); or

an extension notice under subsection 39B(7);

the agency that issued the notice; and

the reporting entity to whom the notice was issued.

the designated service is specified in column 1 of an item of the following table; and

the conditions (if any) specified in column 2 of the item are satisfied; and

the reporting entity does not have an enhanced due diligence obligation in relation to the customer under section 32.

provided by a reporting entity that is an ADI; and

provided to a customer that is an ADI.

provided by a reporting entity that is the holder of an exchange settlement account; and

provided to a customer that is the holder of an exchange settlement account; and

provided using the exchange settlement accounts held by the reporting entity and the customer.