The overall ML/TF risk for traveller’s cheques is assessed by AUSTRAC as low.
This is largely due to the very low value of traveller’s cheque transactions in Australia, combined with the measures service providers have implemented to mitigate the risk of exploitation.
AUSTRAC expects the value of traveller’s cheque transactions to continue to decrease, which will continue to put downward pressure on the market’s vulnerability to crime.
AUSTRAC notes that this risk assessment is intended to provide a summary and general overview. It does not assess every risk relevant to traveller’s cheques.
The Risk assessment is available at: