Remittance service providers
Remittance providers transfer value on behalf of customers internationally and face IFTI reporting obligations.
AML/CTF Act 2006 — Remittance Network Providers
AML/CTF Obligations
Register with AUSTRAC as a remittance network provider or independent remittance dealer
Implement and maintain a full AML/CTF program
Conduct KYC on both senders and beneficiaries for all transactions
Lodge IFTI IN and IFTI OUT reports for international transfers of $1,000 AUD or more
Lodge SMRs within 3 business days of forming a suspicion
Lodge TTR reports for threshold cash transactions
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.
Typical Customer Risk Profiles
Frequent senders to high-risk corridors — customers regularly sending to countries with weak AML regimes or active sanctions exposure are inherently higher risk.
Third-party senders — a customer who regularly sends on behalf of others (rather than for themselves) is a nominee risk flag that triggers enhanced CDD.
Cash-only customers — customers who always pay in cash and have no verifiable financial footprint are harder to profile and carry higher layering risk.
Multiple transfers just under the $1,000 IFTI threshold — classic structuring behaviour that indicates deliberate threshold management.
Recommended Compliance Pack
Remittance Pack
Pre-configured for Remittance service providers — KYC rules, risk thresholds, AUSTRAC report templates, CDD workflows, and monitoring rules aligned to your obligations. Ready from day one.
View pack detailsWhat's included
System default — customisableAutomated 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
Example workflow
Default — you can modify stepsSender walks in
New customer identified — digital intake form captures name, DOB, photo ID.
Identity verified
Automated KYC check. Sanctions and PEP screening runs in real time.
Transfer details recorded
Amount, destination country, beneficiary details captured and stored.
IFTI threshold checked
Transfer at or above $1,000 AUD — IFTI report auto-created and pre-filled from transaction data.
Monitoring runs
Transaction added to customer's monitoring profile. Structuring patterns checked against prior transfers.
IFTI submitted
MLRO reviews and approves. Batch submission to AUSTRAC before 10-day deadline.
Pricing Recommendation
Recommended
Professional
High-volume remittance operations need bulk IFTI submission, automated structuring detection, and corridor risk monitoring. The Professional plan covers all of this plus case management for SMR preparation.
View full pricingReady to get compliant as a Remittance?
Your Remittance Pack is configured on day one. 7-day free trial — no credit card, no consultants, no configuration sprints.