Our AUSTRAC Enrolment & Compliance Obligations
Dinar Exchange Australia (Oz Trading Group Pty Ltd) is enrolled with AUSTRAC as a foreign currency dealer under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006. This page sets out our registration details, our ongoing obligations, and what compliance means for our customers.
AUSTRAC Enrolment No.
100311410
Anti-Money Laundering & Counter-Terrorism Financing Act 2006
Legal Entity
Oz Trading Group Pty Ltd
ABN 82 158 981 787 · ACN 158 981 787 · Trading as Dinar Exchange™
Enrolled Since
2011
Over 14 years of continuous AUSTRAC-compliant operations in Australia
Background
What is AUSTRAC?
AUSTRAC — the Australian Transaction Reports and Analysis Centre — is Australia's financial intelligence agency and the regulator responsible for enforcing the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (the AML/CTF Act). AUSTRAC monitors financial transactions to detect, deter, and disrupt money laundering, terrorism financing, and other serious financial crime.
Any business in Australia that provides “designated services” — including foreign currency exchange — is legally required to enrol with AUSTRAC before operating. Failure to enrol is a criminal offence under the AML/CTF Act.
AUSTRAC enrolment is not optional and it cannot be self-issued. It requires a formal application to the regulator, ongoing compliance reporting, identity verification of key personnel, and adherence to anti-money laundering programs. When you see an AUSTRAC enrolment number, it means the business has passed the regulator's initial assessment and is subject to ongoing regulatory oversight.
Why This Matters When Buying Currency
What AUSTRAC Enrolment Means for You as a Buyer
✓Your Protections as a Customer
- →You are dealing with a business that has been assessed and approved by Australia's financial intelligence regulator — not an unlicensed seller operating outside the law.
- →Your personal information is handled under strict AML/CTF privacy and record-keeping obligations — we are legally required to protect it and retain records for a minimum of 7 years.
- →Every transaction is subject to regulatory oversight. We are required by law to report suspicious activity to AUSTRAC — this protects you from inadvertently being involved in money laundering schemes.
- →You can independently verify our enrolment number (100311410) directly with AUSTRAC. No legitimate business will refuse this request.
- →Banks will not stock Iraqi Dinar. Buying from an unlicensed seller online carries the risk of counterfeit notes, fraud, and no legal recourse. AUSTRAC enrolment is the minimum standard of legitimacy for any foreign currency dealer in Australia.
Regulatory Obligations
Our Ongoing AUSTRAC Obligations
AUSTRAC enrolment is not a one-time registration — it carries continuous, legally enforceable obligations. As an enrolled reporting entity, Dinar Exchange Australia is required to maintain the following:
Customer Verification
ID Requirements for Purchases
Under the AML/CTF Act, we are required to verify the identity of customers before completing currency transactions. The following summarises what is required depending on your order value:
| Order Value | ID Required | Accepted Documents | Status |
|---|---|---|---|
| Under $500 AUD | Name and contact details | No formal document required | Basic |
| $500 – $9,999 AUD | Government-issued photo ID | Australian driver’s licence, passport, or Medicare card + secondary ID | Required |
| $10,000 AUD and over | Full KYC verification | Passport or driver’s licence + proof of address (utility bill, bank statement dated within 3 months) | Required |
| Any amount (suspicious) | Enhanced due diligence | Additional documentation may be requested at our discretion under AML/CTF obligations | Required |
ID verification is a legal obligation — not optional. Orders cannot be processed or dispatched until identity verification is complete. We handle all personal information in accordance with the Australian Privacy Principles under the Privacy Act 1988.
Our Compliance Framework
How We Maintain Compliance
AUSTRAC enrolment sets the minimum standard. Our internal compliance framework goes further to ensure every transaction is lawful, traceable, and secure.
Bank Transfer Only
We do not accept cash payments or credit/debit cards. All transactions are completed via bank transfer only, creating a fully auditable payment trail for every order.
Authenticated Note Sourcing
All Iraqi Dinar banknotes are sourced exclusively from federally registered currency dealers with direct links to the Central Bank of Iraq supply chain. We do not purchase notes from secondary markets or unlicensed sources.
Certificate of Authenticity
Every order is accompanied by a Certificate of Authenticity confirming the notes supplied are genuine Iraqi Dinar issued by the Central Bank of Iraq. This certificate is your record of purchase.
Registered Post Delivery
All orders are dispatched via Australia Post Registered Mail with full tracking and signature on delivery. Packages are insured in transit. This ensures a complete chain of custody from dispatch to receipt.
Privacy Act Compliance
Customer personal information is collected, stored, and handled in accordance with the Australian Privacy Principles (APPs) under the Privacy Act 1988. We do not sell or share customer data with third parties for marketing purposes.
Annual Compliance Review
Our AML/CTF program is reviewed and updated annually. We submit compliance reports to AUSTRAC each year and proactively update our procedures in line with regulatory guidance and any changes to the AML/CTF Act.
2026 Legislative Updates
AML/CTF Reforms — What's Changing
Australia's AML/CTF framework is undergoing its most significant update since the Act was introduced in 2006. The Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2024 introduces new obligations that take effect in stages from 31 March 2026.
Effective 31 March 2026
The new AML/CTF Rules 2025 come into effect for current reporting entities. Key changes include a shift from compliance-based to risk-based AML/CTF programs, mandatory appointment of a formal AML/CTF Compliance Officer, and expanded obligations for businesses involved in international value transfers. Dinar Exchange Australia is monitoring these changes and will update its internal compliance program accordingly.
Independent Verification
Verify Our Enrolment Directly with AUSTRAC
You do not need to take our word for it. AUSTRAC maintains a public register of enrolled reporting entities. You can verify our enrolment independently at any time.
How to Verify
Visit the AUSTRAC website at austrac.gov.au and search the reporting entities register using our business name (Oz Trading Group Pty Ltd) or our ABN (82 158 981 787). You can also contact AUSTRAC directly on 1300 021 037 during business hours.
When evaluating any currency dealer in Australia, always ask for their AUSTRAC enrolment number and verify it independently before transferring funds. A legitimate business will have no hesitation providing this information.
Common Questions
AUSTRAC Compliance FAQ
Is it legal to buy Iraqi Dinar in Australia?+
Why do I need to provide ID to buy Iraqi Dinar?+
What happens to my personal information?+
Do I need to declare Iraqi Dinar when travelling internationally?+
Why don’t Australian banks sell Iraqi Dinar?+
What is the difference between AUSTRAC enrolment and AUSTRAC registration?+
How do I know my Iraqi Dinar notes are genuine?+
Ready to Buy Iraqi Dinar?
AUSTRAC registered · Certificate of authenticity · Insured tracked delivery · Operating since 2011
Disclaimer: The information on this page is provided for general information purposes only and does not constitute legal advice. Regulatory requirements under the AML/CTF Act are subject to change. For current AUSTRAC guidance, visit austrac.gov.au. Dinar Exchange Australia is enrolled as a reporting entity — enrolment does not constitute an endorsement of any product or service by AUSTRAC. The purchase of foreign currency carries financial risk. This page does not constitute financial advice.