Australian Transaction Reports and Analysis Centre - Identification

Identification

Reporting entities must identify their customers. Accounts may only be operated by an identified customer, an unidentified customer is blocked. Generally identification can be transferred from one account to another, so that for instance a person once identified does not need to produce documents again when opening a second account at the same institution.

For banks and similar, identification requirements are determined by a risk-based approach, which may differ for each reporting entity.

It's an offence to open or operate an account with a reporting entity under a false name, punishable by a fine or up to 2 years imprisonment.