New financial crime guides will help business to identify and stop criminal activity in its tracks. These guides provide you with patterns and indicators to understand, identify and report suspicious financial activity for a range of serious and organised crimes.
Intelligence provided by AUSTRAC’s Fintel Alliance has led to the disruption of a $62 million money laundering syndicate in Melbourne and the seizure of illegal firearms, luxury motor vehicles and illicit cash and drugs.
In 2020, AUSTRAC working collaboratively with the major banks established a project targeting criminals laundering money through Automatic Teller Machines (ATMs).
AUSTRAC’s Fintel Alliance has been awarded the Partnerships in Conservation Award by INTERPOL in recognition of its contribution to protecting wildlife from illegal trafficking.
A new financial crime guide released today will help financial services businesses detect and report suspicious transactions indicative of fraud and misuse of emergency and disaster payments administered through Services Australia.
The AUSTRAC website is the best place for you to find information to protect your business and the community from financial crime. In fact, our website is the best place for anyone to find information about AUSTRAC and what we do.
That’s why we’re working hard to make our website easier for everyone who deals with us to find and consume our information online.
A new financial crime guide released today will help businesses understand, identify and report technology-facilitated abuse through financial transaction payment text fields. AUSTRAC’s Fintel Alliance has seen an increase in the use of these fields to stalk, harass or threaten victims, in an attempt to avoid law enforcement scrutiny.
The Financial Action Task Force (FATF), the global group that sets international anti-money laundering and counter-terrorism financing (AML/CTF) standards, has published two recent updates relating to international ML/TF risk.
The reports provide an update on jurisdictions which may pose a risk to the international financial system:
The issue of de-banking is a complex global problem. Over the past decade, the range of businesses impacted by a loss or limitation of access to banking services has expanded. Money transfer (remitters), digital currency exchanges, not-for-profit organisations (NPO) and financial technology (FinTech) businesses are disproportionally facing bank account closures.
AUSTRAC’s intelligence and regulatory functions work in parallel to protect Australians and our financial system from serious and organised crime.
Over the next four years the System Transformation Program will bring substantial changes to AUSTRAC Online, transforming the way regulated entities interact and report to AUSTRAC.
These changes include a modern and intuitive user interface, ensuring the platform is tailored for different industries and portal access on multiple platforms, including mobile devices.