Designated services
Do you provide a designated service?
If your business provides any of the services listed below, you're a "reporting entity" and must comply with the AML/CTF Act.
What is a Designated Service?
The Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) applies to businesses that provide specific services known as "designated services".
These services have been identified because they pose a risk for money laundering or terrorism financing. They cover a wide range of activities across financial services, bullion dealing, and gambling operations.
Crucial Rule
If you provide even one designated service, you are a "reporting entity" and must:
- Enrol with AUSTRAC
- Maintain an AML/CTF compliance programme
- Conduct customer due diligence
- Report suspicious matters and transactions
The designated services are defined in Section 6 of the AML/CTF Act.
Complete List of Designated Services
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Showing 72 of 72 services
Opening an account with an ADI, bank, building society, credit union, or specified person
Examples: Opening a bank account, credit union account
Customer: The holder of the account
Allowing a person to become a signatory to an account
Examples: Adding a spouse to a joint account
Customer: The signatory
Allowing a transaction to be conducted in relation to an account
Examples: Processing a deposit or withdrawal
Customer: The account holder and each signatory
Accepting money on deposit (other than to an account)
Examples: Term deposits, specific investment products
Customer: The person in whose name the deposit is held
Allowing a transaction in relation to a deposit (other than to an account)
Customer: The person in whose name the deposit is held
Making a loan in the course of carrying on a loans business
Examples: Mortgages, personal loans, business loans
Customer: The borrower
Allowing a borrower to conduct a transaction in relation to a loan
Examples: Redrawing on a mortgage
Customer: The borrower
Factoring a receivable in the course of carrying on a factoring business
Examples: Invoice financing
Customer: The person whose receivable is factored
Forfaiting a bill of exchange or promissory note
Customer: The person whose bill or note is forfaited
Supplying goods by way of finance lease (excluding consumer leases)
Examples: Car leasing, equipment leasing, commercial property leasing
Customer: The lessee
Allowing a lessee to conduct a transaction in relation to a finance lease
Customer: The lessee
Supplying goods by way of hire-purchase (excluding consumer hire-purchase)
Examples: Rent to buy schemes
Customer: The person to whom goods are supplied
Allowing a person to conduct a transaction in relation to a hire-purchase agreement
Customer: The person to whom goods are supplied
Providing a chequebook or similar facility for an account
Examples: Issuing a cheque facility
Customer: The holder of the account
Providing a chequebook or similar facility for an account with a building society or credit union
Customer: The holder of the account
Providing a chequebook or similar facility for a trust account
Customer: The holder of the beneficial interest in the trust
Issuing a bill of exchange, promissory note, or letter of credit
Examples: Bank drafts, letters of credit
Customer: The person to whom it is issued
Issuing a debit card to an account holder
Examples: Visa/Mastercard debit cards
Customer: The holder of the account
Issuing a debit card by a building society/credit union to an account holder
Customer: The holder of the account
Issuing a debit card by a trustee/manager of a trust
Customer: The holder of the beneficial interest
Issuing a stored value card (value ≥ $1,000 or allows withdrawal of ≥ $1,000)
Examples: Travel money cards, gift cards over $1k
Customer: The person to whom the card is issued
Increasing the value of a stored value card to ≥ $1,000
Customer: The holder of the stored value card
Allowing a transaction with a stored value card (value ≥ $1,000)
Customer: The holder of the stored value card
Issuing a traveller's cheque
Examples: Less common now, but still regulated
Customer: The person to whom the cheque is issued
Cashing a traveller's cheque
Customer: The person who presents the cheque
Issuing a money order or postal order
Customer: The person to whom the order is issued
Cashing a money order or postal order
Customer: The person who presents the order
Remitting money through a permanent establishment in Australia to a place outside Australia
Examples: International money transfers
Customer: The person from whom the money is received
Remitting money through a permanent establishment in Australia to another place in Australia
Examples: Domestic money transfers
Customer: The person from whom the money is received
Receiving money through a permanent establishment in Australia from a place outside Australia
Examples: International inward remittances
Customer: The person to whom the money is to be provided
Receiving money through a permanent establishment in Australia from another place in Australia
Examples: Domestic inward remittances
Customer: The person to whom the money is to be provided
Dealing in foreign exchange (currency exchange)
Examples: Currency exchange booths, FX trading
Customer: The person with whom the dealer deals
Exchanging digital currency for money (or vice versa)
Examples: Buying/selling Bitcoin, Crypto exchanges
Customer: The customer
Issuing or selling a security or derivative
Examples: Shares, options, futures, CFDs
Customer: The person to whom the security/derivative is issued or sold
Acquiring or disposing of a security or derivative on behalf of a person
Customer: The person on whose behalf the transaction is conducted
Providing a custodial or depository service
Examples: Holding assets/shares for a client
Customer: The person for whom the service is provided
Issuing or selling an interest in a managed investment scheme
Customer: The person to whom the interest is issued or sold
Acting as a trustee of a trust
Examples: Professional trustee services
Customer: The beneficiaries of the trust
Establishing a trust
Customer: The person who requests the establishment of the trust
Preparing a trust deed
Customer: The person who requests the preparation of the deed
Acting as a partner in a partnership
Customer: The other partners
Establishing a partnership
Customer: The person who requests the establishment of the partnership
Preparing a partnership agreement
Customer: The person who requests the preparation of the agreement
Acting as a company secretary
Customer: The company
Acting as a director of a company
Customer: The company
Establishing a company
Customer: The person who requests the establishment of the company
Providing a registered office or business address for a company, partnership or trust
Examples: Virtual office services, company registration
Customer: The company, partnership or trust
Managing a company, partnership or trust
Customer: The company, partnership or trust
Buying or selling real estate
Examples: Property sales, conveyancing
Customer: The buyer or seller
Buying or selling a business
Examples: Business brokers, business sales
Customer: The buyer or seller
Managing client funds, securities or other assets
Examples: Trust accounts, client funds management
Customer: The client
Managing bank, savings or securities accounts
Customer: The client
Organizing contributions for the creation, operation or management of companies
Customer: The client
Creating, operating or managing a legal person or legal arrangement
Customer: The client
Buying or selling bullion
Examples: Gold/Silver dealers
Customer: The buyer or seller
Buying bullion in the course of carrying on a business of buying bullion
Examples: Gold/Silver dealers buying from customers
Customer: The person from whom the bullion is bought
Selling bullion in the course of carrying on a business of selling bullion
Examples: Gold/Silver dealers selling to customers
Customer: The person to whom the bullion is sold
Receiving or accepting a bet
Customer: The person who places the bet
Paying out winnings in respect of a bet
Customer: The person to whom the winnings are paid
Providing a service for the playing of a game of chance or of mixed chance and skill for money
Examples: Casino games, poker machines
Customer: The player
Receiving money for the purpose of a game of chance or of mixed chance and skill
Customer: The person from whom the money is received
Paying out winnings in respect of a game of chance or of mixed chance and skill
Customer: The person to whom the winnings are paid
Exchanging money for gaming chips or tokens
Examples: Casino chip exchanges
Customer: The person exchanging the money
Exchanging gaming chips or tokens for money
Customer: The person exchanging the chips or tokens
Paying out winnings in the form of gaming chips or tokens
Customer: The person to whom the winnings are paid
Opening an account with a gambling service provider
Examples: Online betting accounts
Customer: The holder of the account
Allowing a person to become a signatory to an account with a gambling service provider
Customer: The signatory
Allowing a transaction to be conducted in relation to an account with a gambling service provider
Customer: The account holder and each signatory
Exchanging stored value cards for money or vice versa in a gambling setting
Customer: The customer
Issuing a stored value card in a gambling setting
Customer: The customer
Crediting a stored value card in a gambling setting
Customer: The customer
Debiting a stored value card in a gambling setting
Customer: The customer
Are you an Accountant, Lawyer, or Real Estate Agent?
Currently, you may not be regulated unless you provide specific financial services (such as arranging loans or managing client funds).
However, Tranche 2 reforms are coming (effective 1 July 2026).
Tranche 2 will designate additional services including:
Real Estate
Buying/selling property
Legal Services
Managing client funds
Accounting
Creating companies/trusts
Instant Compliance is built to handle these upcoming requirements. Get ahead of the deadline and ensure your business is ready.
Learn more about Tranche 2 →Found a service you provide?
If your business performs any of the above, you need an AML/CTF programme. Instant Compliance can get you sorted in minutes.
Disclaimer
This list is a guide only and does not constitute legal advice. Please refer to the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 for the definitive legislation.