We strictly have to follow the rules and regulations set by AUSTRAC in regards to transferring funds to and from Australia.
One of the key fundamentals of abiding by the regulations is the ability to identify the customers who are transferring money.
We need to make sure that we are AML/CTF complaint. Any activity seen to be suspicious or potentially illegal would be dealt extremely seriously and the necessary steps would be taken to report such activity to AUSTRAC.
The registration process is simple, fast and only needs to be done once.