--- title: "Can we still say \"we never accept cash\" in our risk assessment if a client deposits cash directly into our trust account at the bank?" description: Yes, the cash-acceptance onus sits with the bank that receives the deposit, not your firm. --- [Skip to content](https://knowledge.easyaml.com/cash-bank-deposited-despite-no-cash-policy#main-content) English - Australia Show submenu for translations Open main navigation Close main navigation - English - Australia Show submenu for translations How can we help you? - There are no suggestions because the search field is empty. 1. [easyAML Help Centre](https://knowledge.easyaml.com/?hsLang=en-au) 2. [FAQs](https://knowledge.easyaml.com/faqs?hsLang=en-au) 3. [Compliance Program](https://knowledge.easyaml.com/faqs?hsLang=en-au#compliance-program) # Can we still say "we never accept cash" in our risk assessment if a client deposits cash directly into our trust account at the bank? ## Yes, the cash-acceptance onus sits with the bank that receives the deposit, not your firm. **Yes.** The onus for accepting that cash sits with **the bank**, not with your firm. If your office policy is genuinely not to accept cash - meaning your staff don't physically receive cash from clients, and clients are instructed to use EFT or direct deposit instead - you can confidently state this in your Risk Assessment. Why this distinction matters under AUSTRAC's framework: - **The bank** that receives the cash deposit is a **financial institution (FI)** with its own AML obligations - including Threshold Transaction Reporting (TTR) for cash deposits of $10,000+. Their CDD obligation activates with the deposit. - **Your firm** as the recipient of the funds (via your trust account) isn't accepting cash directly - you're receiving cleared funds from the bank, the same as any EFT. - **The Risk Assessment question** is about what your firm directly handles, not about how funds reach your account upstream. **What you should still consider in your Risk Assessment**: - **Source of funds enquiry** - if a client's pattern of large cash deposits into your trust account looks unusual, that's a Suspicious Matter Report (SMR) consideration regardless of who handled the cash physically. - **Customer risk rating** - a customer who routinely funds matters via cash deposits (vs. EFT from a traceable account) may warrant a higher risk rating. - **Office policy clarity** - your "no cash" position should be documented (engagement terms, customer communications) so it's clear what the policy actually is. The "no cash" statement is a useful risk reducer in the RA - it removes one channel where customers could obscure source-of-funds. The platform's Risk Assessment wizard accommodates this position cleanly. ### Related articles - [Glossary: Key Terms & Definitions](https://knowledge.easyaml.com/easy-aml-glossary?hsLang=en-au) - [Do I Need to Report Cash Transactions Over $10,000?](https://knowledge.easyaml.com/reporting-cash-over-10000?hsLang=en-au) - [When to report a suspicious matter?](https://knowledge.easyaml.com/when-to-report-a-suspicious-matter?hsLang=en-au) - [What red flags should staff watch for when assessing whether to lodge an SMR?](https://knowledge.easyaml.com/what-red-flags-should-staff-watch-for-when-assessing-whether-to-lodge-an-smr?hsLang=en-au) - [What are some common AML myths?](https://knowledge.easyaml.com/what-are-some-common-aml-myths?hsLang=en-au) - [easyAML Set-up Checklist](https://knowledge.easyaml.com/easyaml-set-up-checklist?hsLang=en-au) - [Training Videos](https://knowledge.easyaml.com/training-videos?hsLang=en-au#main-content) - [Register for Upcoming Webinars](https://knowledge.easyaml.com/training-videos?hsLang=en-au#register-for-upcoming-webinars) - [Previously Recorded Webinars](https://knowledge.easyaml.com/training-videos?hsLang=en-au#previously-recorded-webinars) - [FAQs](https://knowledge.easyaml.com/faqs?hsLang=en-au#main-content) - [General](https://knowledge.easyaml.com/faqs?hsLang=en-au#general) - [AML/CTF basics](https://knowledge.easyaml.com/faqs?hsLang=en-au#aml-ctf-basics) - [Getting started](https://knowledge.easyaml.com/faqs?hsLang=en-au#getting-started) - [Compliance Program](https://knowledge.easyaml.com/faqs?hsLang=en-au#compliance-program) - [Customer Due Diligence (CDD)](https://knowledge.easyaml.com/faqs?hsLang=en-au#customer-due-diligence-cdd) - [Training](https://knowledge.easyaml.com/faqs?hsLang=en-au#training) - [Reporting](https://knowledge.easyaml.com/faqs?hsLang=en-au#reporting) - [Sector Coverage](https://knowledge.easyaml.com/faqs?hsLang=en-au#sector-coverage) - [Pricing & Plans](https://knowledge.easyaml.com/faqs?hsLang=en-au#pricing-plans) - [Sales & Onboarding](https://knowledge.easyaml.com/faqs?hsLang=en-au#sales-onboarding) - [Trusts & Complex Structures](https://knowledge.easyaml.com/faqs?hsLang=en-au#trusts-complex-structures) - [Reliance & KYC Sharing](https://knowledge.easyaml.com/faqs?hsLang=en-au#reliance-kyc-sharing) - [ACMA SMS Sender ID Register](https://knowledge.easyaml.com/faqs?hsLang=en-au#acma-sms-sender-id-register) - [Quick Answers](https://knowledge.easyaml.com/faqs?hsLang=en-au#quick-answers) - [How-to Guides](https://knowledge.easyaml.com/how-to-guides?hsLang=en-au#main-content) - [Tasks](https://knowledge.easyaml.com/how-to-guides?hsLang=en-au#tasks) - [Transactions](https://knowledge.easyaml.com/how-to-guides?hsLang=en-au#transactions) - [Entities](https://knowledge.easyaml.com/how-to-guides?hsLang=en-au#entities) - [Insights](https://knowledge.easyaml.com/how-to-guides?hsLang=en-au#insights) - [Training](https://knowledge.easyaml.com/how-to-guides?hsLang=en-au#training) - [Compliance](https://knowledge.easyaml.com/how-to-guides?hsLang=en-au#compliance) - [Reports](https://knowledge.easyaml.com/how-to-guides?hsLang=en-au#reports) - [Account Settings](https://knowledge.easyaml.com/how-to-guides?hsLang=en-au#account-settings) - [Billing & Plans](https://knowledge.easyaml.com/how-to-guides?hsLang=en-au#billing-plans) - [KYC Information](https://knowledge.easyaml.com/kyc-information?hsLang=en-au#main-content) - [Client Resources](https://knowledge.easyaml.com/kyc-information?hsLang=en-au#client-resources) - [Person being verified](https://knowledge.easyaml.com/kyc-information?hsLang=en-au#person-being-verified) - [Glossary](https://knowledge.easyaml.com/glossary?hsLang=en-au) - [Integrations](https://knowledge.easyaml.com/integrations?hsLang=en-au#main-content) - [General](https://knowledge.easyaml.com/integrations?hsLang=en-au#general) - [Action Step](https://knowledge.easyaml.com/integrations?hsLang=en-au#action-step) - [Clio](https://knowledge.easyaml.com/integrations?hsLang=en-au#clio) - [XPM](https://knowledge.easyaml.com/integrations?hsLang=en-au#xpm) - [Scantek](https://knowledge.easyaml.com/integrations?hsLang=en-au#scantek) - [News Feed](https://knowledge.easyaml.com/news-feed?hsLang=en-au#main-content) - [Latest Release Notes](https://knowledge.easyaml.com/news-feed?hsLang=en-au#latest-release-notes) - [Support](https://knowledge.easyaml.com/support?hsLang=en-au) [![easyAML-Logo\_Magenta](https://knowledge.easyaml.com/hs-fs/hubfs/easyAML-Logo_Magenta.png?width=200&height=47&name=easyAML-Logo_Magenta.png "easyAML-Logo_Magenta")](https://easyaml.com/) Copyright © 2026, easyAML