Remittance Pack

Built for the remittance sector — covering sender KYC, beneficiary capture, IFTI IN/OUT, and suspicious activity reporting.

Setup time

< 10 minutes

Customer capacity

Unlimited senders and beneficiaries

AUSTRAC alignment

AML/CTF Act 2006 compliant

What's included in the Remittance Pack

Sender & Beneficiary Capture

Sender KYC — photo ID and address verification
Beneficiary identification (name, account, destination country)
Purpose of remittance capture for high-value transfers
Enhanced due diligence for transfers to high-risk corridors
Beneficial ownership for business senders
Ongoing periodic review for frequent senders

Transaction Monitoring Rules

IFTI threshold detection — auto-flag transfers ≥ $10,000 AUD
Structuring detection — multiple transfers below threshold
High-risk corridor monitoring (FATF grey/blacklist destinations)
Third-party sender pattern detection
Hawala indicator rules
Rapid consecutive transfer velocity checks

AUSTRAC Report Templates

IFTI IN — inbound international value transfers
IFTI OUT — outbound international value transfers
SMR — suspicious matter reports
TTR — threshold cash transaction reports
Bulk IFTI import for high-volume corridors

AML/CTF Program Templates

Remittance Provider Risk Assessment
Correspondent and Sub-agent Due Diligence procedures
Corridor Risk Register
Part A and Part B program templates
Annual AML/CTF Program Review template

AUSTRAC Report Templates Included

SMRIFTI INIFTI OUTTTR

Remittance providers must lodge IFTI IN reports within 10 business days of receiving an international transfer instruction and IFTI OUT reports within 10 business days of sending. SMRs must be lodged within 3 business days of forming a suspicion.

AML/CTF Program Components

Part A — Governance, Risk Assessment, Policies

Part B — Sender and Beneficiary Identification Procedures

Correspondent/Sub-agent Due Diligence Register

Corridor Risk Assessment Matrix

Training Log

Board Approval Workflow

Risk Areas This Pack Addresses

Layering proceeds through multiple transfer corridors and jurisdictions

Structuring transfers below reporting thresholds to avoid detection

Use of nominees and third parties to disguise the true sender

Connections to hawala and informal value transfer networks

How VeriGo Automates Your Obligations

Automated KYC for both sender and beneficiary with pre-populated IFTI report fields

Real-time sanctions screening for senders, beneficiaries, and destination jurisdictions

Pre-built remittance monitoring rules including corridor risk scoring and structuring detection

Bulk IFTI IN and IFTI OUT submission for high-volume operations — 200+ IFTIs in a single batch

Agent network oversight tools for remittance network providers with sub-agent compliance tracking

Getting Started in 5 Steps

Select "Remittance Pack" on account creation

Configure your corridors and risk thresholds

Set IFTI threshold alert rules (default: $10,000 AUD)

Invite your compliance and operations team

Submit your first IFTI report

Globe

Remittance Pack

7-day free trial — no credit card

Start your free trial and the Remittance Pack is configured automatically on day one. No consultants, no setup fees, no surprises.

Start Free Trial

Want a guided walkthrough?

Book a 30-minute demo with our compliance team. We'll walk through exactly how the Remittance Pack works for your business and answer any AUSTRAC-specific questions.