AUSTRAC contributes to Australia's whole of government efforts to establish regional security and assist developing countries to reduce poverty and achieve sustainable development. As one of the first financial intelligence units (FIUs) to be established worldwide and as a leading FIU in the region, AUSTRAC is in a prime position to offer support in establishing and enhancing the operational capacity of our regional counterpart FIUs. The strength and effectiveness of these counterpart anti-money laundering and counter-terrorism financing (AML/CTF) regimes is important in ensuring regional hostility to money laundering and terrorism financing (ML/TF).
AUSTRAC provides this crucial support by working towards:
- the development of a sound regulatory and supervisory capacity in developing FIUs
- the enhancement of the intelligence capacity of developing FIUs
- regional network building and the promotion of communication and information sharing between FIUs.
AUSTRAC technical assistance and training programs
Pacific Region FIU Sustainability and Capacity Building Project
In 2010 AUSTRAC commenced a three year program to build the capacity of 14 Pacific FIUs as well as with East Timor in detecting and deterring ML/TF. Under this program AUSTRAC is providing assistance to develop operational capability and refine FIU operations and processes, as well as providing ongoing IT capacity building assistance. The program is funded under AusAID's Pacific Public Sector Linkages Program and builds on the 12 month program of assistance undertaken in 2009-10.
Strengthening AML/CTF Regulation in South Asia (SARiSA) Program
AUSTRAC has received funding from AusAID's Public Sector Linkages Program for a three-year capacity building program with the FIUs of Bangladesh, Nepal and Sri Lanka. The program, which commenced in November 2011, will focus on training staff from the insurance and securities regulators regarding their policies, guidelines and AML/CTF compliance. The overall objective is to build each regulator's capacity in undertaking effective AML/CTF regulation of their part of the financial sector. This program follows on from the AusAID funded Financial Intelligence Capacity Building in South Asia (FICSA) Program undertaken in 2009-11.
Strengthening the Rule of Law in Africa program
As part of a joint program with the Australian Federal Police (AFP) and the Australian Attorney General's Department to strengthen the rule of law in Africa, AUSTRAC received funding in 2009 of $8.1 million over a four year period, to provide Official Development Assistance to up to nine African FIUs. AUSTRAC's program of technical assistance and training is being provided in the form of in-country mentoring and workshops on FIU operations, IT advice and annual regional workshops to enhance compliance with international AML/CTF best practice.
PPATK/AUSTRAC Partnership Program (PAPP)
AUSTRAC has been delivering technical assistance and training to Indonesia's FIU, Pusat Pelaporan Dan Analisis Transaksi Keuangan (PPATK), since late 2002 under a range of different funding packages and programs. PAPP builds on the outcomes of these various programs and seeks to streamline AUSTRAC's capacity building efforts to generate more sustainable and significant outcomes for Indonesia. PAPP is aligned with Indonesia's National AML/CTF Strategy and is designed to further develop Indonesia's AML/CTF programs, improve industry compliance, and enhance PPATK's IT governance, risk management and domestic coordination.
Under this program AUSTRAC has stationed two in-country mentors in the offices of PPATK in Jakarta. The program, which is funded by AusAID under the Government Partnerships Fund, commenced in June 2009 and is due for completion in December 2012.
Jakarta Centre for Law Enforcement Cooperation (JCLEC)
AUSTRAC provides one officer to the regional training activities of the JCLEC initiative led by the AFP and Indonesian National Police. Collaborating with the AFP, the officer provides training in financial analysis for law enforcement officials from a range of South-East Asian jurisdictions, and particularly Indonesia. AUSTRAC's work with JCLEC commenced in 2004.
Enhanced Capacity to Regulate the Indonesian Alternative Remittance Sector (EIARS)
AUSTRAC has received funding from the Australia Indonesia Counter-Terrorism Cooperation Fund (CTCF) to undertake a technical assistance and training program to Indonesia's FIU, and Bank Indonesia to enhance their capacity to regulate the alternative remittance sector in Indonesia. The program is funded for a two year period commencing January 2011.
Developing Economic Security in Pakistan (DESP) Program
AUSTRAC provided assistance to enhance the capacity of AUSTRAC's FIU counterpart in Pakistan, the Financial Monitoring Unit (FMU), in meeting international AML/CTF standards and in adopting best practice AML/CTF frameworks. This program also sought to enhance public sector effectiveness in Ministries and agencies that are responsible for establishing and maintaining economic security in Pakistan under their joint mandate of combating ML/TF. The program, which was funded by AusAID's Public Sector Linkages Program, commenced in July 2010 and ran for a period of 15 months, following on from the successful program of assistance undertaken in 2009.
Countering Corruption and Anti Money Laundering program (CCAML)
AUSTRAC conducted a one year program of capacity building assistance to Thailand, the Philippines, Indonesia and Malaysia to enhance their ability to combat corruption and money laundering. The CCAML program, which commenced in November 2010, aimed to assist the targeted FIUs and their counterpart AML regulators and anti-corruption agencies in detecting and preventing activities relating to corruption, including the laundering of proceeds. The program was funded under AusAID's Public Sector Linkages Program.