The Fintel Alliance is a world-first private-public partnership to combat money laundering, terrorism financing and other serious crime.
It consists of 22 members from Government and the private sector - both domestic and international – who work together, sharing and analysing financial intelligence to:
- Build the resilience of the financial sector against criminal exploitation, and
- Support law enforcement investigations into serious crime and national security matters.
The Fintel Alliance is operates through intense collaboration between government agencies and private sector organisations.
The Alliance has two core capabilities:
- Operations Hub: a set of physical spaces where Fintel Alliance partners collaborate, exchange and analyse intelligence in real-time.
- Innovation Hub: where Fintel Alliance partners collaborate, co-design and test new and innovative technology solutions to augment the operational requirements within the Operations Hub.
The Fintel Alliance is committed to focussing on the following strategic priorities:
- Crimes affecting the most vulnerable in our community - protecting children, the elderly and disabled persons, such as by integrating Fintel Alliance capabilities to support the Australian Centre to Counter Child Exploitation (ACCCE).
- Exploitation of government revenues - protecting Australia’s tax system and other government programs from abuse.
- Networked and complex financial crime - disrupting organised criminal enterprises that seek exploit multiple businesses and industries.
- Nationally significant taskforces and campaigns - supporting national operations including targeting Australia’s most wanted criminals, illicit drugs, transnational and serious organised crime, illegal firearms.
- Responding to regional and community harms - assisting to address localised crime, address regional programs, and collaborate with regional partners.
- Technology and sophistication - responding to the most complex money laundering efforts through innovative approaches to data and information.
The Fintel Alliance’s vision is to:
- Equip industry as the first line of defence against financial crime through the sharing of financial intelligence, risk models and contemporary risk insights.
- Share close to real-time information in a secure and targeted way, identifying criminal activity and connections between crime types.
- Create a centre of excellence for financial intelligence to help shape standards, approaches and develop highly skilled financial intelligence analysts across industry and government.
- Explore opportunities to engage and exchange financial intelligence with regional and international partners on Fintel Alliance priorities.
- Identify opportunities for prevention, intervention and enforcement outcomes.
The Fintel Alliance was established in March 2017 and has matured into a world class public private partnership.
In 2019, the Australian Government committed $28.4M over four years to expand the Alliance – significantly increasing it’s capability and operational capacity.
From 2019-20 to 2023-24 the Fintel Alliance will:
- Increase operations in line with high-priority themes outlined above.
- Provide better operational feedback, outcomes and current risk information to ensure industry are better able to respond to the changing environment and report suspicious financial activity.
- Leverage technologies to provide the most effective collaborative working environment; and
- Explore advanced technologies that will extend financial detection capabilities for AUSTRAC and industry.
The Fintel Alliance is made up of Australian and international public and private sector entities and individuals, all of whom are significant stakeholders in the fight against financial crime.
Membership to the Fintel Alliance is achieved through an invitation from the AUSTRAC CEO and is considered based on the Alliance’s operational and strategic objectives.
The current members of the Fintel Alliance are:
|Australia and New Zealand Banking Group Limited||AUSTRAC||Australian Competition and Consumer Commission|
|Australian Criminal Intelligence Commission||Australian Federal Police||Australian Financial Crimes Exchange Ltd (AFCX)|
|Australian Taxation Office||Bendigo and Adelaide Bank Ltd||Commonwealth Bank of Australia|
|Deakin University||Department of Home Affairs||Fintech Australia Incorporated|
|HSBC Bank Australia Limited||Macquarie Bank Limited||MoneyGram Payment Systems Inc.|
|National Australia Bank Limited||National Crime Agency (UK)||New South Wales Crime Commission|
|New South Wales Police Force||New Zealand Police – Financial Intelligence Unit||PayPal Australia Pty Limited|
|Tabcorp Ltd||Australian Government Treasury||Westpac Banking Corporation|
|Western Union Financial Services (Australia) Pty Ltd|