The Egmont Group
The Egmont Group of Financial Intelligence Units (the Egmont Group) was established in 1995, and has grown to a membership of 116 financial intelligence units. Its purpose is to facilitate cooperation in the exchange of financial intelligence within and between its members in the interest of combating money laundering and terrorism financing.
AUSTRAC is a founding and active member of the Egmont Group, including serving as Chair of the Egmont Committee in 2008-2009. AUSTRAC participates in Egmont Plenary and Working Group meetings and, in partnership with other Egmont members, co-sponsors prospective member jurisdictions. Currently, AUSTRAC is the Oceania Regional Representative for the Egmont Group.
Financial Action Task Force (FATF)
The Financial Action Task Force on Money Laundering (FATF) is an inter-governmental body whose purpose is the development and promotion of policies, both at national and international levels, to combat money laundering and terrorism financing. The FATF membership is currently made up of 32 countries and territories, including Australia (1990), and two regional organisations.
The FATF monitors members' progress in implementing necessary measures, reviews money laundering and terrorism financing techniques and counter-measures (typologies), and promotes the adoption and implementation of appropriate measures globally.
AUSTRAC is a member of the Australian delegation at FATF Plenary meetings, and participates in FATF typologies projects and other anti-money laundering and counter-terrorism financing (AML/CTF) initiatives. AUSTRAC officers have also undertaken expert training in FATF mutual evaluation assessments, a peer review process whereby jurisdictions are assessed for compliance with the international AML/CTF standards.
Asia/Pacific Group on Money Laundering (APG)
The Asia/Pacific Group on Money Laundering (APG) is a FATF-style regional body comprising 40 member jurisdictions, three observer jurisdictions and 20 observer organisations.
The APG has five key roles:
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to assess compliance by APG members with the global AML/CTF standards through the mutual evaluation process
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to coordinate bi-lateral and donor-agency technical assistance and training in the Asia Pacific region in order to improve member compliance with the global AML/CFT standards
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to participate in, and cooperate with, the international anti-money laundering network
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to conduct research and analysis into money laundering and terrorist financing trends and methods to better inform APG members of systemic and other associated risks and vulnerabilities
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to contribute to the global policy development of AML/CTF standards by active Associate Membership status in the FATF.
Australia is a founding member of the APG (1997), and is permanent co-chair of the group. The APG Secretariat is hosted by Australia in Sydney. AUSTRAC coordinates Australia's input to the work of the APG, including leading the Australian delegation to the APG Annual Meeting and Forum on Technical Assistance and Training, and participating in the annual APG Typologies Workshop. AUSTRAC is a member of the APG donors and providers group, which was established to foster information sharing on regional technical assistance and training activities, identify potential duplication, and leverage existing efforts. AUSTRAC also provides trained assessors to conduct APG mutual evaluations, and contributes to key implementation initiatives such as the APG/World Bank Strategic Implementation Planning framework.
