Under the anti-money laundering and counter-terrorism financing regime, the Department of Home Affairs (the Department) is publicly consulting on revised thresholds for stored value cards. The proposed changes will help ensure regulation remains proportionate to the money laundering and terrorism financing risks associated with stored value cards.
The AML/CTF Act regulates the issuance and loading of stored value cards above certain thresholds.
The thresholds depend on:
- whether the stored value card is redeemable for cash
- cards that allow cash withdrawals, which are subject to a lower threshold (currently $1,000)
- cards that do not allow cash withdrawals, which are subject to a higher threshold (currently $5,000).
Developments over the past 10 years have highlighted gaps in the current regime.
Targeted reforms to stored value card arrangements are being considered in response to:
- evolving product functionality, such as online purchases
- international moves toward lower monetary value thresholds
- emerging misuse, including high-volume, low-value fraud.
Consultation
For more information, you can view the
public consultation paper.
This round of targeted consultation will be open until Friday 16 October 2026. This consultation is open to the public. It seeks input on possible reform targeting threshold reduction through legislation or regulations.
Submit all feedback and inquiries to
EconomicCrime@homeaffairs.gov.au.
