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100 point ID requirement

The 100 point check was an outcome of the Australian Commonwealth Government's desire to limit opportunities for individuals and companies to hide financial transaction fraud, enacted by the Financial Transactions Reports Act (1988) (FTR Act),[1] which gave rise to the Australian Transaction Reports and Analysis Centre (AUSTRAC).

The points system applies to people opening new financial accounts across Australia, such as a bank account or betting account. Recently (2009), a law stating that buyers for Subscriber Identity Modules (SIMS) require the 100 point check. Also to buy a mobile phone the 100 point check is required. Points are allocated to the types of documentary proof of identity that the person can produce, and they must have at least 100 points of identification to be able to establish the account.

Venue website embedded below - larger screen   

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