An agency that is a reporting entity under the AML/CTF Act accepts $15,000 in cash from a buyer as part of a deposit. What must it do?
Correct Answer
A) Lodge a threshold transaction report with AUSTRAC within 10 business days
Since 1 July 2026 real estate agents providing designated services are reporting entities under the AML/CTF Act. When a reporting entity receives physical cash of $10,000 or more in providing a designated service, it must lodge a threshold transaction report with AUSTRAC within 10 business days. Agencies may choose not to accept cash, but if they do, the report is mandatory, and splitting receipts to avoid it is structuring.
Why This Is the Correct Answer
Physical cash of $10,000 or more received by a reporting entity in the course of a designated service triggers a threshold transaction report to AUSTRAC within 10 business days. The $15,000 deposit is over the threshold, so the report must be lodged.
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