The AFP has charged a western Sydney man, 34, for allegedly remitting about $650,000 to Iranian banks in contravention of Australian Government sanctions.
The man, a director of an Auburn registered remittance company, allegedly processed 543 international currency transfers, totalling $649,308, to sanctioned banks in Iran during a 12-month period.
Registered money remitters are legitimate businesses which can facilitate international money transfers from one customer to another. However, people and entities overseas may be designated by the Minister for Foreign Affairs as subject to targeted financial sanctions. This makes it a criminal offence to deal with or make an asset available to a designated person or entity.
Several Iranian banks have been designated as subject to Australian sanctions in accordance with Australia's sanctions legislation.
Following a report from the Australian Sanctions Office (ASO) within the Department of Foreign Affairs, the AFP launched an investigation into potential sanctions contraventions involving currency remittance companies and sanctioned Iranian banks.
On 30 July, 2025, investigators executed search warrants at a Wentworthville home and an Auburn business and seized a number of electronic devices. Forensic digital examination allegedly identified evidence of funds transfers to designated Iranian banks.
The man was issued a court attendance notice on 17 September, 2025, to appear before Downing Centre Local Court today (15 October, 2025) charged with engaging in conduct which contravenes a sanction law, contrary to section 16(1) of the Autonomous Sanctions Act 2011 (Cth).
The offence carries a maximum penalty of 10 years' imprisonment, and/or a fine the greater of $825,000 or three times the value of the contravening transaction.
As a result of the court attendance notice, AUSTRAC suspended the Auburn company's remittance registration for one year.
The AFP, ASO and AUSTRAC warn members of the financial industry - particularly registered remitter companies - of the serious consequences they face for contravening Australian Government financial sanctions.
The ASO takes compliance with Australian sanctions laws seriously. Sanctions contraventions are serious criminal offences.
Last month, the ASO issued a number of warning letters to registered remittance companies across Australia, in response to recent concerns regarding their financial activities. The ASO continues to actively monitor both the operations of these companies and the broader sector.
AFP Detective Superintendent Peter Fogarty urged registered remitters to be aware of Australian sanctions laws or risk the intervention of the AFP.
"The AFP works closely with the Australian Government and partners to ensure Australians aren't breaching sanctions and dealing with foreign entities which engage in concerning conduct," Det-Supt Fogarty said.
"If you are contravening Australian sanctions, be warned - the AFP is ready and willing to act to disrupt your criminal activities."
AUSTRAC National Manager law enforcement Anthony Helmond said the result was a great example of how AUSTRAC's dual role helps protect the financial system.
"AUSTRAC intelligence has contributed significantly to this investigation. Every time a business is instructed to transfer funds internationally, they must report that to AUSTRAC. We monitor these reports for signs of this type of activity and other criminality," he said.
"In this case, the allegations brought by the AFP and the remitter's failure to meet their transaction reporting obligations has led to AUSTRAC suspending the registration, legally preventing them from operating."
As Australia's anti-money laundering and counter-terrorism financing regulator, AUSTRAC regulates reporting entities' management and mitigation of money laundering, terrorism financing and proliferation financing risks.
Changes to the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, which come into effect next year, require remitters and other AUSTRAC regulated businesses to have additional measures in place to enforce targeted financial sanctions
It is the responsibility of each individual to ensure they comply with sanctions and act in accordance with these laws.
You should seek legal advice if you interact with a person or entity on the Consolidated List, which includes all individuals and entities subject to Australian sanctions.
DFAT has released a Guidance Note for Remittance service providers. This is available at Guidance notes | Australian Government Department of Foreign Affairs and Trade.
