The Australian Gift and Prepaid Card Association (AGPCA) has provided a formal submission to the Department of Home Affairs and AUSTRAC as part of its consultation on updates to Australia’s Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) regime. Our submission addresses proposed changes that could affect the gift card and prepaid industry, outlining why consumer gift cards – typically non-reloadable, capped in value, and not redeemable for cash – present a low risk of misuse. AGPCA advocates for proportionate, risk-based regulation that safeguards against financial crime while preserving consumer choice and supporting retail innovation.
Download the full submission here