business.gov.au

Declaration as an Identifying Cash Dealer - Australian Government

Description

You will require this declaration if you are a cash dealer. A cash dealer includes:

  • financial institutions
  • financial corporations
  • motor vehicle dealers who are insurers
  • trustees or a manager of a unit trust
  • currency or bullion dealers
  • casinos and gambling houses.

Cash dealers have obligations under various Acts, depending on the nature of the service. The Acts that impose obligations are:

  • Financial Transaction Report Act (FTR Act)
  • Anti-Money Laundering and Counter-Terrorism Financing Act (AML/CTF Act).

You may be an entity that offers multiple services that will have obligations under both Acts

Service type

Licence

A licence defines the need to obtain recognition / certification and registration to undertake a certain business activity.

Eligibility requirements

To be eligible for this declaration, you must:

  • carry out the designated verification procedures and take all reasonable steps to complete the procedures promptly in each case
  • report to the Agency in relation to information obtained as a result of carrying out the above-mentioned procedures
  • provide the Agency with written reports in respect of certain periods regarding your compliance with the legislation
  • do any other actions which are specified in your application form.

Your application and the undertaking documents must be signed by yourself personally or if you are a body corporate, your principal executive officer.

Ongoing eligibility requirements

If you are involved in a cash transaction which is $10,000 or more (including foreign currency equivalent), you must submit a significant cash transaction report (SCTR).

Duration

Ongoing

Fees

Fees Details for this service in table format.

Task Type Business Structure Description
Apply Application All

Please consult the Contact Officer for information on fees to be submitted.

Forms

Act(s) name

Anti-Money Laundering and Counter-Terrorism Financing Act 2006 Australian Government

Financial Transaction Reports Act 1988 Australian Government

Administering agency

Attorney-General's Department

Australian Transaction Reports and Analysis Centre

Contact details

Contact Email, Phone and Address Details for this service in simple two column table format, header then data.