This is a money laundering technique which involves the deliberate division of a large amount of cash into a number of smaller deposits to evade threshold reporting requirements. Under section 142 of the AML/ CTF Act structuring is punishable by up to five years imprisonment and/or 300 penalty units.

The person (or organisation) who is the ultimate recipient of funds being transferred.

People who physically transport cash on their person, internally or as part of their luggage between international jurisdictions. Couriers may be directly connected to the criminal activity and proceeds of crime, or they may be third parties (mules) recruited specifically for the task of moving the money offshore.

The process of combining the profits of illicit activities with the profits of a legitimate business to disguise the illicit funds and make them appear legitimate.

Under the AML/CTF Act, CBM-PC reports are submitted when currency (coin or paper money) worth AUD10,000 or more (or the foreign equivalent) is carried, mailed or shipped into or out of Australia:

Hawala is an informal money transfer system which operates around the world, primarily in the Middle East and South Asia.

Jurisdictions which are known to be a source of narcotics 24

Money or other property used (or intended to be used) in, or in connection with, the commission of a Commonwealth, state, territory or foreign indictable offence.

Under the AML/CTF Act, if a reporting entity sends or receives an instruction to or from a foreign country to transfer money or property, that entity must submit an IFTI report. Prior to 12 December 2008, IFTI reports were required to be submitted under the FTR Act.

The processes or methods used by criminals to conceal the origins of illicit funds or, in the case of terrorism financing, conceal the intended use of funds.