A 34-year-old man from western Sydney has been charged by the Australian Federal Police (AFP) for allegedly remitting about $650,000 to Iranian banks in contravention of Australian Government sanctions.
The man, a director of a remittance company registered in Auburn, allegedly processed 543 international transfers totalling $649,308 to sanctioned Iranian banks over a 12-month period.
While registered money remitters are legitimate businesses that facilitate international transfers, it is a criminal offence to deal with people or entities subject to targeted financial sanctions, as designated by the Minister for Foreign Affairs. Several Iranian banks fall under these Australian sanctions.
Following a report from the Australian Sanctions Office (ASO) within the Department of Foreign Affairs, the AFP launched an investigation into potential breaches by currency remittance companies. On 30 July 2025, investigators executed search warrants at a Wentworthville home and the Auburn business, seizing electronic devices that allegedly contained evidence of transfers to sanctioned banks.
The man received a court attendance notice on 17 September 2025 and appeared before Downing Centre Local Court on 15 October 2025, charged with conduct contravening section 16(1) of the Autonomous Sanctions Act 2011 (Cth). The offence carries a maximum penalty of 10 years’ imprisonment or a fine of $825,000 or three times the value of the contravening transactions.
As a result, AUSTRAC suspended the Auburn company’s remittance registration for one year. AFP Detective Superintendent Peter Fogarty warned registered remitters to familiarise themselves with Australian sanctions laws.
“The AFP works closely with the Australian Government and partners to ensure Australians aren’t breaching sanctions and dealing with foreign entities engaged in concerning conduct,” Det-Supt Fogarty said.
AUSTRAC National Manager Anthony Helmond said the case demonstrates the regulator’s dual role in protecting Australia’s financial system.
“AUSTRAC intelligence contributed significantly to this investigation. Remitters must report every international transfer, and non-compliance can result in suspension of operations.”
The ASO emphasises that sanctions contraventions are serious criminal offences and continues to monitor remittance companies and the broader financial sector. Changes to the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, effective next year, will require additional compliance measures to enforce targeted financial sanctions.
Individuals and businesses are urged to seek legal advice if they interact with persons or entities on the Consolidated List, which includes all those subject to Australian sanctions.
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