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Feedback process

Under the FTR Act and AML/CTF Act, one of AUSTRAC's primary functions is to collect and analyse FTRs, and disseminate financial intelligence to partner agencies for use in their investigations and operations.

To ensure this process continues, it is essential that our partner agencies provide feedback on the usefulness of FTRs and other intelligence products. Of greatest benefit is feedback related to investigations or operations identifying how illicit funds were used to support terrorism groups.

It is also important that AUSTRAC receives feedback on investigations where money laundering was committed - but not detected in a FTR. This can help us identify ML/TF methods that could be used by criminals to circumvent the AML/CTF legislation. This information will allow AUSTRAC to refine its resources for reporting entities.

Feedback we receive from our partner agencies principally assists AUSTRAC in:

  • assessing AUSTRAC's effectiveness in achieving the objectives of the FTR Act and AML/CTF Act
  • assessing and analysing the value of AUSTRAC information
  • developing typologies which improve ML/TF monitoring systems and other intelligence products
  • providing reports, resources and educational materials to reporting entities
  • providing partner agencies with information about ML/TF methods being used within Australia and internationally
  • providing presentations and case studies that support the global effort to combat ML/TF. Australia makes important contributions to the ML/TF typologies exercises of the FATF, the Egmont Group of Financial Intelligence Units and the APG.

All information provided to AUSTRAC is handled with the appropriate levels of sensitivity and security.

Last modified: 04/12/2014 12:59