AML Terms

A digital currency exchange provider buys and sells digital currency for money – find out what this means and common compliance concerns.

Learn what digital currency means in Australia, how AUSTRAC defines it, and why it matters for compliance and upcoming virtual asset reforms.

Learn what a correspondent banking relationship is and how one bank supports another’s cross‑border services while managing AML risks.

Counterparty refers to the person or entity on the other side of a transaction whose identity and risk are reviewed under AML regulations.

Corporate Group: A collection of related companies under common ownership, requiring AML compliance across all entities for effective risk management.

Know what a certified copy is in AML, how it’s used in KYC, and why certified documents matter for compliance checks.

Understand what bullion means, how it is used in financial markets, and why it matters for AML and compliance monitoring.

Explore the concept of a beneficiary institution, including its role in receiving funds and its relevance in AML compliance processes.

Learn what a Bearer negotiable instrument means and how its ownership passes by delivery to whoever holds it.

Learn what an authorised deposit taking institution – is a licensed financial body like a bank, credit union or building society that can take deposits.