As Australia's anti-money laundering and counter-terrorism financing (AML/CTF) regulator, AUSTRAC oversees compliance with the requirements of the AML/CTF Act by a range of reporting entities, including financial services providers, bullion sellers, designated remittance service providers and the gambling industry.
As Australia's financial intelligence unit, AUSTRAC collects, analyses and disseminates financial intelligence to its partner agencies, as well as international counterparts.
AUSTRAC's domestic partners include Australian Government law enforcement, national security, revenue, regulatory and social justice agencies, as well as state and territory law enforcement and revenue agencies. Our partner agencies and international counterparts use AUSTRAC information in their investigations into a range of criminal activities, including money laundering, fraud, drug offences and tax evasion.
AUSTRAC issues media releases for a number of its activities. Publicising details of these activities, including enforcement action taken by AUSTRAC against reporting entities, serves a variety of purposes, including:
- raising awareness within industry and the general public of the threat posed by money laundering;
- identifying current money laundering methodologies;
- reinforcing with reporting entities the standards which are required to be met under Australia's AML/CTF regime; and
- illustrating the consequences which can arise if reporting entities fail to comply with these requirements.
The AUSTRAC Chief Executive Officer, or his nominated representative, will be available to discuss matters detailed in media releases.
In responding to media enquiries, AUSTRAC may provide broad information about the agency's intelligence and regulatory role or may direct media representatives to relevant AUSTRAC publications.
There will be occasions where AUSTRAC will be unable to comment on particular matters. In particular, AUSTRAC is unable to:
- comment on individual intelligence or operational matters
- comment on, confirm or deny whether an individual or reporting entity is the subject of any investigation by AUSTRAC or our partner agencies.
Unauthorised disclosure of official information may put at risk law enforcement operations and/or may be prevented by a range of legislative prohibitions, including:
- Part 11 of the AML/CTF Act - which contains the secrecy provisions relating to AUSTRAC information; or
- Section 70 of the Crimes Act 1914 - which makes it an offence for a Commonwealth officer to publish or communicate any fact, or document which comes into his or her knowledge or possession, and which it is his or her duty not to disclose.
All media enquiries should be directed to AUSTRAC's Stakeholder Relations team who will endeavour to assist as promptly and thoroughly as possible.
Contact Stakeholder Relations:
Phone: (03) 8636 0588