Federal Register of Legislation - Australian Government

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Rules/Other as made
This instrument amends the Anti-Money Laundering and Counter-Terrorism Financing Rules Instrument 2007 (No. 1) to amend Chapter 11 and insert Chapter 72 and Chapter 73.
Administered by: Attorney-General's
Exempt from sunsetting by the Legislation (Exemptions and Other Matters) Regulation 2015 s12 item 06
Registered 06 Dec 2016
Tabling HistoryDate
Tabled HR07-Feb-2017
Tabled Senate07-Feb-2017
Date of repeal 08 Dec 2016
Repealed by Division 1 of Part 3 of Chapter 3 of the Legislation Act 2003

Anti-Money Laundering and Counter-Terrorism Financing Rules Amendment Instrument 2016 (No. 2)

Anti-Money Laundering and Counter-Terrorism Financing Act 2006

I, Paul Jevtovic APM, Chief Executive Officer, Australian Transaction Reports and Analysis Centre, make this Instrument under section 229 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006.

 

Dated 2 December 2016

 

 

 

 

 

 

 

 

[signed]

Paul Jevtovic APM

Chief Executive Officer
Australian Transaction Reports and Analysis Centre


 

1            Name of Instrument

This Instrument is the Anti-Money Laundering and Counter-Terrorism Financing Rules Amendment Instrument 2016 (No. 2).

2            Commencement

This Instrument commences on the day after it is registered.

 

3            Amendment

Schedules 1 and 2 amend the Anti-Money Laundering and Counter-Terrorism Financing Rules Instrument 2007 (No. 1).

Schedule 1               Amendment of the Anti-Money Laundering and Counter-Terrorism Financing Rules Instrument 2007 (No. 1).

 

1.        Chapter 11

 

Item 1    After the subheading below paragraph 11.3, for paragraph 11.4

 

Repeal the paragraph, substitute:

 

11.4.    For subsection 247(4) of the AML/CTF Act, subsections 47(1) and 47(2) of that Act are specified in relation to:

 

            (1)        the reporting period as specified in subparagraph 11.2 for 2016, and

 

            (2)        the lodgment period as specified in subparagraph 11.3 for 2017;

 

            in the following circumstances:

 

(3)        in the 2016 calendar year, the reporting entity is a registered remittance affiliate that only provides designated services of the kind set out in items 31 and 32 of table 1 in subsection 6(2) of the AML/CTF Act; or

 

(4)        in the 2016 calendar year, the reporting entity is a registered remittance network provider that only provides a designated service of the kind set out in item 32A of table 1 in subsection 6(2) of the AML/CTF Act.

 

 

Schedule 2               Amendment of the Anti-Money Laundering and Counter-Terrorism Financing Rules Instrument 2007 (No. 1).

 

2.        Chapter 72

 

Item 1    After Chapter 71

 

Insert:

Chapter 72         Account-based money transfer systems

 

72.1.       These Anti-Money Laundering and Counter-Terrorism Financing Rules (Rules) are made under section 229 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) for the definition of ‘ordering institution’ and ‘beneficiary institution’ in subparagraphs 8(1)(c)(v), 8(1)(d)(v), 9(1)(c)(v) and 9(1)(d)(v) of the AML/CTF Act and paragraph 45(3)(b) of that Act.

MoneyGram

Instructions transmitted into Australia

72.2.       For the purposes of subparagraphs 8(1)(c)(v) and 9(1)(c)(v), the following person is specified to be an ordering institution:

(1)     a non-financier when:

(a)        the non-financier accepts an instruction from a payer to transfer money controlled by the payer to a payee;

(b)        the instruction is accepted through a permanent establishment of the non-financier in a foreign country;

(c)        the instruction is accepted on the basis that the transferred money will be made available to the payee as a result of the instruction being transmitted into Australia via the MoneyGram Money Transfer Service; and

(d)       the transferred money is to be, or is, only made available to the payee at or through a permanent establishment of a beneficiary institution in Australia in circumstances where:

(i)        the beneficiary institution has a contractual arrangement with MoneyGram to receive the transmitted instruction; and

(ii)       will make the money available to the payee.

 

Instructions transmitted out of Australia

72.3.       For the purposes of subparagraphs 8(1)(d)(v) and 9(1)(d)(v), the following person is specified to be a beneficiary institution:

(1)     a non-financier in a foreign country when:

(a)        the payer, through the permanent establishment of the ordering institution in Australia, instructs that ordering institution to transfer money controlled by the payer to a payee in the foreign country; and

(b)        the ordering institution, which has a contractual arrangement with MoneyGram to accept such instructions, transmits the instructions out of Australia via the MoneyGram Money Transfer Service to the non-financier; and

(c)        the non-financier, through a permanent establishment of the non-financier in the foreign country, will make, or makes, the money available to the payee.

72.4.    If either of the following are applicable:

(1)        an International Funds Transfer Instruction is accepted by a non-financier who because of the operation of paragraph 72.2 is an ordering institution; or

(2)        money transferred as a result of an International Funds Transfer Instruction is to be or is made available to the payee at or through a permanent establishment of a non-financier who because of the operation of paragraph 72.3 is a beneficiary institution;

then, for the purposes of paragraph 45(3)(b) of the AML/CTF Act, the information contained in the Schedule to this Chapter is specified.

Western Union

Instructions transmitted into Australia

72.5.       For the purposes of subparagraphs 8(1)(c)(v) and 9(1)(c)(v), the following person is specified to be an ordering institution:

(1)     a non-financier when:

(a)        the non-financier accepts an instruction from a payer to transfer money controlled by the payer to a payee;

(b)        the instruction is accepted through a permanent establishment of the non-financier in a foreign country;

(c)        the instruction is accepted on the basis that the transferred money will be made available to the payee as a result of the instruction being transmitted into Australia via the Western Union Money Transfer Service; and

(d)       the transferred money is to be, or is, only made available to the payee at or through a permanent establishment of a beneficiary institution in Australia in circumstances where:

(i)        the beneficiary institution has a contractual arrangement with Western Union to receive the transmitted instruction; and

(ii)        will make the money available to the payee.

Instructions transmitted out of Australia

72.6.       For the purposes of subparagraphs 8(1)(d)(v) and 9(1)(d)(v), the following person is specified to be a beneficiary institution:

(1)     a non-financier in a foreign country when:

(a)        the payer, through the permanent establishment of the ordering institution in Australia, instructs that ordering institution to transfer money controlled by the payer to a payee in the foreign country; and

(b)        the ordering institution, which has a contractual arrangement with Western Union to accept such instructions, transmits the instructions out of Australia via the Western Union Money Transfer Service to the non-financier; and

(c)        the non-financier, through a permanent establishment of the non-financier in the foreign country, will make, or makes, the money available to the payee.

72.7.    If either of the following are applicable:

(1)        an International Funds Transfer Instruction is accepted by a non-financier who because of the operation of paragraph 72.5 is an ordering institution; or

(2)        money transferred as a result of an International Funds Transfer Instruction is to be or is made available to the payee at or through a permanent establishment of a non-financier who because of the operation of paragraph 72.6 is a beneficiary institution;

then, for the purposes of paragraph 45(3)(b) of the AML/CTF Act, the information contained in the Schedule to this Chapter is specified.

72.8.    In this Chapter:

(1)        ‘MoneyGram’ means MoneyGram International, Inc., a Delaware corporation, Federal Employer Identification Number 16-1690064, with its principal executive offices situated at 2828 North Harwood Street, Dallas, Texas 75201, USA, listed on the NASDAQ, and any subsidiary of it;

(2)        ‘MoneyGram Money Transfer Service’ means the international remittance service for retail consumer transactions, branded MoneyGram Money Transfer Service;

(3)        ‘Western Union’ means the Western Union Company, a Delaware USA Corporation, Internal Revenue Service Employer Identification Number 20-4531180, with its principal executive offices situated at 12500 East Belford Avenue, Englewood, Colorado 80112, USA, listed on the New York Stock Exchange, and any subsidiary of it;

(4)        ‘Western Union Money Transfer Service’ means the international remittance service for retail consumer transactions, branded Western Union Money Transfer Service.


Schedule

 

Reportable details for International Funds Transfer Instructions – account-based money transfers

 

Instructions transmitted into Australia

1.         For the purposes of paragraphs 72.4(1) and 72.7(1), a report about an international funds transfer instruction (the instruction) must contain:

(1)     if the transferor entity is an individual:

(a)     the transferor entity’s name;

(b)     any other name used by the transferor entity, if known;

(c)     the transferor entity’s date of birth, if known;

(d)    the transferor entity’s address (not being a post box address);

(e)     the transferor entity’s postal address, if different from subparagraph 1(1)(d), if known;

(f)     the transferor entity’s telephone number, if known;

(g)     the transferor entity’s email address, if known;

(h)     the transferor entity’s occupation, business or principal activity, if known;

(2)     if the transferor entity is a non‑individual:

(a)     the name of the transferor entity and any business name under which the transferor entity is operating;

(b)     a description of the legal form of the transferor entity and any business structure it is a part of, for the purposes of its main business activities, if known (for example, partnership, trust or company);

(c)     the business or principal activity of the transferor entity, if known;

(d)    the address (not being a post box address) of the transferor entity at which it carries on business, or its principal place of business;

(e)     the transferor entity’s postal address, if different from subparagraph 1(2)(d), if known;

(f)     the transferor entity’s telephone number, if known;

(g)     the transferor entity’s email address, if known;

(3)     for a person in a foreign country who accepts the instruction from the transferor entity for the transfer of money (foreign entity):

(a)     if the foreign entity is an individual:

(i)         the foreign entity’s full name;

(ii)        any other name used by the foreign entity, if known;

(iii)       the foreign entity’s date of birth, if known;

(iv)       the foreign entity’s address (not being a post box address);

(v)        the foreign entity’s postal address, if different from subparagraph 1(3)(a)(iv), if known;

(vi)       the foreign entity’s telephone number, if known;

(vii)      the foreign entity’s email address, if known;

(viii)     the foreign entity’s occupation, business or principal activity, if known;

(b)     if the foreign entity is a non‑individual:

(i)         the name of the foreign entity and any business name under which the foreign entity is operating;

(ii)        a description of the legal form of the foreign entity and any business structure it is a part of, for the purposes of its main business activities, if known (for example, partnership, trust or company);

(iii)       the business or principal activity of the foreign entity, if known;

(iv)       the address (not being a post box address) of the foreign entity at which it carries on business, or its principal place of business;

(v)        the foreign entity’s postal address, if different from subparagraph 1(3)(b)(iv), if known;

(vi)       the foreign entity’s telephone number, if known;

(vii)      the foreign entity’s email address, if known;

(4)     the date on which the foreign entity accepts the instruction from the transferor entity, if known;

(5)     the identifier (if applicable), and/or the name and address (not being a post box address) of the foreign entity at which it accepts the instruction from the transferor entity, if applicable and known;

(6)     the number of the transferor entity’s account held with the foreign entity which accepts the instruction from the transferor entity, if applicable;

(7)     where a person (other than the foreign entity) transmits the instruction for the transfer of money under the designated remittance arrangement (transmitter):

(a)     if the transmitter is an individual:

(i)         the transmitter’s full name, if known;

(ii)        any other name used by the transmitter, if known;

(iii)       the transmitter’s date of birth, if known;

(iv)       the transmitter’s address (not being a post box address), if known;

(v)        the transmitter’s postal address, if different from subparagraph 1(7)(a)(iv), if known;

(vi)       the transmitter’s telephone number, if known;

(vii)      the transmitter’s email address, if known;

(viii)     the transmitter’s occupation, business or principal activity, if known;

(b)     if the transmitter is a non‑individual:

(i)         the name of the transmitter and any business name under which the transmitter is operating, if known;

(ii)        a description of the legal form of the transmitter and any business structure it is a part of, for the purposes of its main business activities, if known (for example, partnership, trust or company);

(iii)       the business or principal activity of the transmitter, if known;

(iv)       the address (not being a post box address) of the transmitter at which it carries on business, or its principal place of business, if known;

(v)        the transmitter’s postal address, if different from subparagraph 1(7)(b)(iv), if known;

(vi)       the transmitter’s telephone number, if known;

(vii)      the transmitter’s email address, if known;

(8)     the name and address of the entity in Australia to which the instruction for the transfer of money was sent by the transmitter;

(9)     the date on which the non-financier arranges for the money to be made available or makes or is to make the money available to the ultimate transferee entity;

(10)   the name and full address (not being a post box address) of the non-financier (receiver) who arranges for the money to be made available or that makes or is to make the money available to the ultimate transferee entity in Australia;

(11)   the identifier (if applicable), and/or the name and address (not being a post box address) of the person, if different from subparagraph 1(10), at which the money is made or is to be made available to the ultimate transferee entity in Australia;

(12)   if the ultimate transferee entity is an individual, the ultimate transferee entity’s:

(a)     full name;

(b)     date of birth, if known;

(c)     full residential address (not being a post box address), if known;

(d)    postal address, if different from subparagraph 1(12)(c), if known;

(e)     telephone number, if known;

(f)     email address, if known;

(g)     occupation, business or principal activity and ABN, if known;

(13)   if the ultimate transferee entity is a non‑individual:

(a)     the name of the ultimate transferee entity and any business name under which the ultimate transferee entity is operating;

(b)     a description of the legal form of the ultimate transferee entity and any business structure it is a part of, for the purposes of its main business activities, if known (for example, partnership, trust or company);

(c)     the business or principal activity of the ultimate transferee entity, if known;

(d)    the full address (not being a post box address) of the ultimate transferee entity at which it carries on business, or its principal place of business, if known;

(e)     the ultimate transferee entity’s postal address, if different from subparagraph 1(13)(d), if known;

(f)     where the ultimate transferee entity has an ACN or ARBN – that number;

(g)     where the ultimate transferee entity has an ABN – that number;

(h)     the ultimate transferee entity’s telephone number, if known;

(i)      the ultimate transferee entity’s email address, if known;

(14)   (a)      the amount referred to in the instruction;

(b)     the currency of the amount referred to in the instruction;

(15)   if money is to be made available to the ultimate transferee entity by a person in Australia depositing or arranging for the money to be deposited into an account held by the ultimate transferee entity with that person, whether or not held jointly with any other person or persons:

(a)     the account number of that account, if applicable;

(b)     the name in which the account is held, if applicable; and

(c)     the name and location of the institution at which the account is held;

(16)   any reference number allocated by the reporting entity to the instruction;

(17)   any information given in the instruction about the reason for transferring the money.

Instructions transmitted out of Australia

2.         For the purposes of paragraphs 72.4(2) and 72.7(2) of these AML/CTF Rules, a report about an international funds transfer instruction (the instruction) must contain:

(1)     if the transferor entity is an individual:

(a)     the transferor entity’s full name;

(b)     any other name used by the transferor entity, if known;

(c)     the transferor entity’s date of birth;

(d)    the transferor entity’s full residential address (not being a post box address);

(e)     the transferor entity’s postal address, if different from subparagraph 2(1)(d), if known;

(f)     the transferor entity’s telephone number, if known;

(g)     the transferor entity’s email address, if known;

(h)     the transferor entity’s occupation, business or principal activity and ABN, if known;

(i)      the customer’s bank, building society or credit union (whichever applicable) account number;

(j)      the identification number assigned to the transferor entity, if applicable;

(2)     if the transferor entity is a non‑individual:

(a)     the name of the transferor entity and any business name under which the transferor entity is operating;

(b)     a description of the legal form of the transferor entity and any business structure it is a part of, for the purposes of its main business activities, if known (for example, partnership, trust or company);

(c)     the business or principal activity of the transferor entity, if known;

(d)    the full address (not being a post box address) of the transferor entity at which the entity carries on business, or its principal place of business;

(e)     the transferor entity’s postal address, if different from subparagraph 2(2)(d), if known;

(f)     where the transferor entity has an ACN or ARBN – that number;

(g)     where the transferor entity has an ABN – that number;

(h)     the transferor entity’s telephone number, if known;

(i)      the transferor entity’s email address, if known;

(j)      the customer’s bank, building society or credit union (whichever applicable) account number;

(k)     the identification number assigned to the transferor entity, if applicable;

(3)     the identifier (if applicable), and/or the name and address (not being a post box address) of a non-financier (sender) that accepts the instruction from the transferor entity, for the transfer of money under the designated remittance arrangement;

(4)     the date on which the non-financier accepts the instruction from the transferor entity;

(5)     the name and address (not being a post box address) of the person at which money is accepted from the transferor entity, if different from subparagraph 2(3);

(6)     the number of the transferor entity’s account held with the person which accepts the instruction from the transferor entity, if applicable;

(7)     where a person (other than the person referred to in subparagraph 2(3)) transmits the instruction for the transfer of money under the designated remittance arrangement (transmitter):

(a)     if the transmitter is an individual:

 

(i)         the transmitter’s full name;

 

(ii)        any other name used by the transmitter, if known;

 

(iii)       the transmitter’s date of birth, if known;

(iv)       the transmitter’s address (not being a post box address);

(v)        the transmitter’s postal address, if different from subparagraph 2(7)(a)(iv), if known;

(vi)       the transmitter’s telephone number, if known;

(vii)      the transmitter’s email address, if known;

(viii)     the transmitter’s occupation, business or principal activity, if known;

(b)     if the transmitter is a non‑individual:

(i)         the name of the transmitter and any business name under which the transmitter is operating;

(ii)        a description of the legal form of the transmitter and any business structure it is a part of, for the purposes of its main business activities, if known (for example, partnership, trust or company);

(iii)       the business or principal activity of the transmitter, if known;

(iv)       the address (not being a post box address) of the transmitter at which the transmitter carries on business, or its principal place of business;

(v)        the transmitter’s postal address, if different from subparagraph 2(7)(b)(iv), if known;

(vi)       where the transmitter has an ACN or ARBN – that number;

(vii)      where the transmitter has an ABN – that number;

(viii)     the transmitter’s telephone number, if known;

(ix)       the transmitter’s email address, if known;

(8)     the name and address of the person in the foreign country to which the sender and/or transmitter sent the instruction for the transfer of money;

(9)     the identifier (if applicable), and/or the name and address of a person (disbursing entity) who arranges for the money to be made available or at which the money is, or is to be, made available to the ultimate transferee entity;

(10)   the date on which the money becomes accessible for the disbursing entity to make available to the ultimate transferee entity, if known;

(11)   if the ultimate transferee entity is an individual, the ultimate transferee entity’s:

(a)     full name;

(b)     date of birth, if known;

(c)     address (not being a post box address);

(d)    postal address, if different from subparagraph 2(11)(c), if known;

(e)     telephone number, if known;

(f)     email address, if known;

(12)   if the ultimate transferee entity is a non‑individual:

(a)     the name of the ultimate transferee entity and any business name under which the ultimate transferee entity is operating;

(b)     a description of the legal form of the ultimate transferee entity and any business structure it is a part of, for the purposes of its main business activities, if known (for example, partnership, trust or company);

(c)     the business or principal activity of the ultimate transferee entity, if known;

(d)    the address (not being a post box address) of the ultimate transferee entity at which it carries on business, or its principal place of business;

(e)     the ultimate transferee entity’s postal address if different from subparagraph 2(12)(d), if known;

(f)     the ultimate transferee entity’s telephone number, if known;

(g)     the ultimate transferee entity’s email address, if known;

(13)   (a)      the amount referred to in the instruction;

(b)     the currency of the amount referred to in the instruction;

(14)   if money is to be made available to the ultimate transferee entity by a person in a foreign country depositing or arranging for the money to be deposited into an account held by the ultimate transferee entity with that person, whether or not held jointly with any other person or persons:

(a)     the account number of that account, if applicable;

(b)     the name in which the account is held, if applicable; and

(c)     the name and location of the institution at which the account is held;

(15)   any reference number allocated by the non-financier to the instruction;

(16)   any information given in the instruction about the reason for transferring the money.

3.         A report under subsection 45(2) of the AML/CTF Act must contain the following details about the person completing the report:

(1)     Full name;

(2)     Job title or position;

(3)     Telephone number; and

(4)     Email address.

4.         In this Schedule:

(1)     ‘identifier’ means a Bank Identifier Code (BIC), a Bank-State-Branch identifying code (BSB) or Branch Registration Number (BRN) previously registered with AUSTRAC.

 

 

 

Reporting entities should note that in relation to activities they undertake to comply with the AML/CTF Act, they will have obligations under the Privacy Act 1988, including the requirement to comply with the Australian Privacy Principles, even if they would otherwise be exempt from the Privacy Act. For further information about these obligations, please go to http://www.oaic.gov.au or call 1300 363 992.


Chapter 73      Exemption for Registered Plan Management Providers

73.1.    These Anti-Money Laundering and Counter-Terrorism Financing Rules are made under section 229 for subsection 247(3) of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act).

73.2.    Subject to paragraph 73.3, the AML/CTF Act does not apply to a designated service that:

(1)     is of a kind described in item 31 of table 1 in subsection 6(1) of the AML/CTF Act; or

(2)     is of a kind described in item 32 of table 1 in subsection 6(1) of the AML/CTF Act.

73.3.    The exemption in paragraph 73.2 only applies if:

(1)        the designated service is provided by a person who is a Registered Plan Management Provider under the National Disability Insurance Scheme Act 2013; and

(2)        the provision of the designated service relates solely to managing the funding for supports for a participant in the National Disability Insurance Scheme.

 

73.4.    In this Chapter:

 

(1)     ‘Managing the funding for supports’ has the same meaning as in section 42 of the National Disability Insurance Scheme Act 2013;

 

(2)     ‘National Disability Insurance Scheme’ has the same meaning as in section 9 of the National Disability Insurance Scheme Act 2013;

 

(3)     ‘Participant’ has the same meaning as in section 9 of the National Disability Insurance Scheme Act 2013;

 

(4)     ‘Registered Plan Management Provider’ has the same meaning as in section 9 of the National Disability Insurance Scheme Act 2013.

 

 

Reporting entities should note that in relation to activities they undertake to comply with the AML/CTF Act, they will have obligations under the Privacy Act 1988, including the requirement to comply with the Australian Privacy Principles, even if they would otherwise be exempt from the Privacy Act. For further information about these obligations, please go to http://www.oaic.gov.au or call 1300 363 992.