Research and Analysis conduct research using various tools to provide strategic and operational intelligence on money laundering typologies, trends and vulnerabilities.
Research and Analysis is made up of three units:
- Typologies and Feedback
- Strategic Analysis
- Data Mining and Research
Typologies and Feedback
The Typologies and Feedback unit analyses feedback provided by AUSTRAC partner agencies to document and develop money laundering typologies (methods of activity). These typologies are shared with partner agencies and international financial intelligence units (FIUs). In addition, the typologies and sanitised case studies are used by other business units within AUSTRAC.
This information is used at domestic and international presentations, to inform additional research into emerging vulnerabilities, and assist with identifying matters of possible interest to partner agencies. Suitably sanitised material may also be used to assist reporting entities to improve the quality of Suspicious Transaction Reports by providing indicators of the ways that funds are being laundered.
The Strategic Analysis Unit (SAU) conducts detailed research to provide internal and external stakeholders with proactive intelligence on topics impacting upon Australia's anti-money laundering and counter-terrorism financing. Strategic intelligence is often referred to as research looking at "over the horizon" or future implications which may require legislation or policy responses.
The unit has a significant role in researching industries likely to have obligations under the new AML/CTF legislation with a view to identifying potential money laundering and terrorism financing vulnerabilities and risks within their products and services.
Data Mining and Research
The Data Mining and Research Unit use sophisticated analytical tools to interrogate AUSTRAC's financial holdings for hidden knowledge. The unit provides both reactive and proactive analysis to business units within AUSTRAC and to AUSTRAC's partner agencies.
The unit's work includes operational requests, proactive network development, and technology driven projects such as the development and enhancement of automated risk-based and monitoring systems.