AUSTRAC releases new risk assessments for remittance sector

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AUSTRAC has released two new risk assessments for the remittance sector, highlighting the risks faced by independent remittance dealers and remittance network providers and their affiliates. AUSTRAC says the remittance sector plays a crucial role in global financial inclusion, helping to transfer funds to and from areas which may not be well served by traditional banks. However, the sector can also be a target for criminals who often try and exploit it for financial crime purposes.

https://www.austrac.gov.au/sites/default/files/2022-09/AUSTRAC_RA_IndependentRemittanceDealersInAustralia_Web.pdf

https://www.austrac.gov.au/sites/default/files/2022-09/AUSTRAC_RA_RemittanceNetworkProvidersAndAffiliatesInAustralia_Web.pdf

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