Am I a reporting entity? A plain-English test

A common misconception is that AML/CTF obligations apply to whole professions. They don't. They apply to designated services.

The threshold question

Ask: does my business provide any service on the designated-services list, with a geographical link to Australia, in the course of carrying on a business? A single, low-volume service can be enough to bring you into scope.

Common triggers

• Managing client money, accounts or other assets
• Creating or operating companies and trusts
• Acting as (or arranging) a director, secretary, nominee shareholder or trustee
• Conveyancing, trust-account work, or assisting with financing transactions
• Brokering the sale or purchase of real estate

What to do next

If any of these apply, obtain a documented designated-service assessment. It confirms your position, identifies your obligations, and forms part of your records. Our free "Am I captured?" checker is a two-minute starting point.

General information only, current as at publication. Not legal advice.