You will require this exemption if you operate as a cash dealer in Australia and are seeking to be exempted from preparing a report regarding international funds transfer instructions.
The following cash dealers are required to prepare these reports:
- Senders of an international funds transfer instruction transmitted outside Australia
- Receivers of international funds transfer instruction transmitted into Australia.
Please consult the Contact Officer for more information.
A licence defines the need to obtain recognition / certification and registration to undertake a certain business activity.
At least one of the following must apply:
- The cash dealer is acting on behalf of, or at the request of, another person who is not an Authorised Deposit-taking Institution (ADI); and
- The cash dealer is not an ADI, and the dealer must prepare a report of the instruction before reporting time. (14 days after the day of transmission received if transmitted into Australia or 14 days after day instruction transmitted if out of Australia)
Please consult the Contact Officer for more information regarding eligibility requirements.
As specified on the exemption.
No fees are required.
Reports of International Funds Transfer Instructions - Exemption - Please consult the Contact Officer for information on forms to be submitted.
Australian Transaction Reports and Analysis Centre
Financial Transaction Reports Act 1988 (Australian Government)
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