Today AUSTRAC released four new Australian banking sector money laundering and terrorism financing (ML/TF) risk assessments. The four assessments examine the threats criminals pose to Australia’s major banks, other domestic banks, foreign subsidiary banks and foreign bank branches operating in Australia.

AUSTRAC has partnered with Papua New Guinea’s financial intelligence agency to host the first in person conference of the Pacific Financial Intelligence Community (PFIC), bringing together financial intelligence agencies from across the region.

Held in Port Moresby over two days, the conference will be an opportunity to strengthen regional capacity to combat financial crime including money laundering.