AUSTRAC has today launched its ML/TF risk assessment of the junket tour operations (JTOs) sector.
A new financial crime guide will help businesses understand, identify and report suspicious financial activity to prevent fraud against the National Disability Insurance Scheme (NDIS). NDIS fraud is not a victimless crime and has a serious impact on the Australian public and economy, by stealing directly from the pockets of Australians living with disability.
Released today, the Fintel Alliance Performance Report 2019-20 outlines the impact the Fintel Alliance is having on protecting the Australian financial system and community from serious and organised crime.
The Fintel Alliance is AUSTRAC’s public-private partnership that brings together the financial intelligence expertise and skills of government intelligence and law enforcement agencies and Australia’s largest financial institutions and businesses to deliver new, joined up solutions to combat serious and organised crime.
This is a joint media release between NSW Police Force and AUSTRAC
AUSTRAC and the Financial Intelligence Unit of the United Arab Emirates (UAE-FIU) last week signed a Memorandum of Understanding (MOU) for the exchange of financial intelligence.
Under the MOU, both countries will cooperate in the development, exchange and analysis of financial intelligence related to suspected money laundering, terrorism financing, and other serious crimes.
AUSTRAC CEO Nicole Rose welcomed the agreement, which builds on links already established between AUSTRAC and the UAE-FIU through the Egmont Group of Financial Intelligence Units.
The AUSTRAC annual report 2019-20 highlights our achievements over a challenging year. This includes our agility in responding to the challenges posed by COVID-19 and the work being done to protect Australia’s financial system, businesses and the wider community from criminal abuse.
The Federal Court of Australia has today ordered Westpac to pay a $1.3 billion penalty for its breaches of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act).
AUSTRAC has decided not to undertake further regulatory action after considering the findings and recommendations identified in the Afterpay's external audit report.
A new financial crime guide released today will help businesses to combat Australia’s illegal wildlife trafficking trade by identifying, targeting and reporting suspicious financial activity.
Westpac and AUSTRAC have today agreed to a 1.3 billion dollar proposed penalty over Westpac’s breaches of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act). Westpac and AUSTRAC have agreed that the proposed penalty reflects the seriousness and magnitude of compliance failings by Westpac.