Money Services Business Licence - Australia
Australia regulates money transfer through AUSTRAC enrolment and registration, not through a money services business licence.
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The short answer
Australia does not issue a money services business licence. A business providing a designated service is a reporting entity and must enrol with AUSTRAC. A business providing a remittance service must additionally be entered on the Remittance Sector Register before it provides that service, and a digital currency exchange provider must be registered on the Digital Currency Exchange Register.
Remittance registration has three categories. An independent remittance dealer operates on its own account. A remittance network provider operates a network of affiliates. An affiliate provides services under a network provider's arrangements. The category chosen determines the obligations and the registration record.
The obligations arise under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 and its rules. Registration is not permission to trade in a prudential sense: it is an anti-money laundering control, and AUSTRAC supervises the programme behind it.
Key facts
Enrolment and registration are different steps
Enrolment places the business on AUSTRAC's reporting entities roll. Registration is a separate assessment for remittance and digital currency exchange providers, and AUSTRAC can refuse registration or impose conditions where it is not satisfied about money laundering or terrorism financing risk, or about the suitability of key personnel.
A business must not provide remittance services while an application is pending. AUSTRAC assesses applications within a statutory framework and can stop the clock by requesting further information, so the practical timeline is driven by the quality of the AML/CTF programme submitted with the application.
The AML/CTF programme
- •A written AML/CTF programme covering the identification, mitigation and management of money laundering and terrorism financing risk
- •Customer identification and verification procedures, including for beneficiaries of international funds transfers
- •Ongoing customer due diligence and transaction monitoring proportionate to the risk profile
- •Employee due diligence and risk awareness training
- •Board or senior management oversight of the programme, and independent review
- •Suspicious matter reports, threshold transaction reports and international funds transfer instruction reports
Digital currency and the reform programme
Digital currency exchange providers register separately with AUSTRAC and carry the same programme, reporting and record keeping architecture as remittance providers. Financial product and market conduct questions sit with ASIC and are assessed separately.
Australia is implementing a substantial reform of the AML/CTF regime, including changes to programme obligations and the extension of the regime to further services. Firms entering the market should build to the reformed obligations rather than to the pre-reform baseline, and should confirm the commencement position that applies to their specific service before finalising their programme.
Ongoing AUSTRAC compliance
- •Suspicious matter reports, threshold transaction reports and international funds transfer instruction reports on the prescribed timetable
- •The annual compliance report submitted to AUSTRAC
- •Maintenance of registration details, including key personnel and affiliate arrangements, and renewal every three years
- •Independent review of the AML/CTF programme at appropriate intervals
- •Record keeping for the periods prescribed by the Act and Rules
Definitive guides for this market
Australia remittance registration (AUSTRAC)
Definitive guide: enrolment, registration categories, programme, reporting and renewal.
Canada MSB registration (FINTRAC)
The Canadian equivalent for firms building a multi-market footprint.
US FinCEN MSB registration
Federal US registration for money transmission and related services.
AML and financial crime advisory
AML/CTF programme design, independent review and remediation.
Primary sources
- AUSTRAC: remittance service providers
- Anti-Money Laundering and Counter-Terrorism Financing Act 2006
- AUSTRAC: digital currency exchange providers
Last reviewed by the Regulatory Counsel team on 28 August 2026.
Frequently Asked Questions
No. Australia uses AUSTRAC enrolment as a reporting entity plus registration on the Remittance Sector Register or the Digital Currency Exchange Register. Searches for an Australian MSB licence are looking for that registration.
No. A remittance service must not be provided until AUSTRAC has entered the business on the Remittance Sector Register. Planning a launch date on the assumption of automatic registration is a common and expensive error.
An independent remittance dealer provides services on its own account and holds its own registration. An affiliate provides services under the arrangements of a remittance network provider, which carries responsibility for the network. The category determines both obligations and the registration record.
The regime turns on a geographical link. The service must be provided at or through a permanent establishment in Australia, or by an Australian resident or Australian-incorporated entity through a permanent establishment abroad. That normally means an Australian presence in some form, and the structure should be tested against the specific service.
Registration lasts three years and must then be renewed. Registration details must be kept current in the meantime, including changes to key personnel and network arrangements.