Fintel Alliance year in review

This year AUSTRAC’s Fintel Alliance expanded its world-leading intelligence partnerships, reinforcing its position at the forefront of Australia’s efforts to detect, disrupt and prevent serious financial misconduct.

Fintel Alliance brings together government agencies, law enforcement and industry partners to share data, exchange insights and coordinate action against major financial threats. This collaborative approach strengthens the integrity of Australia’s financial systems and helps law enforcement stay ahead of evolving criminal tactics to protect the community from harm.

This year the Collaborative Analytics Hub became a central function of the Fintel Alliance, enhancing its ability to perform large-scale analysis and produce actionable intelligence in near real-time on a range of themes.

It also saw the Fintel Alliance shed light on current and emerging risks, including:

  • child sexual exploitation
  • exploitation of digital currency exchange providers by high-risk remittance service providers
  • the money laundering risks posed by ‘residency by investment’ schemes on people trying to get citizenship
  • the rise of “scambling” where criminals use illicit gambling sites to launder money, steal personal data and exploit vulnerable people in remote and regional communities.

In response, the Fintel Alliance launched Have You Been Scambled? featuring community-focused educational resources to raise awareness. They were created in partnership with First Nations groups, financial institutions, regulators and law enforcement agencies. 

This year Victoria Police joined as a member of the Fintel Alliance, the newest law enforcement partner. A senior manager from ANZ Bank was seconded to the Fintel Alliance to co-lead efforts to further strengthen collaboration between industry and government participants.

Discover more about how collaboration is transforming the fight against financial crime: