Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2024 (110 of 2024)

Schedule 8   Transfers of value and international value transfer services

Part 2   International value transfer services

Anti-Money Laundering and Counter-Terrorism Financing Act 2006

37   Section 40

Omit:

· If a person sends or receives an international funds transfer instruction, the person must give the AUSTRAC CEO a report about the instruction.

substitute:

· If a person provides an international value transfer service, the person must give the AUSTRAC CEO a report about the provision of the service.

· If a person provides a designated service involving a transfer of virtual assets to or from an unverified self-hosted virtual asset wallet, the person must give the AUSTRAC CEO a report about the provision of the service.