Understanding AUSTRAC Reporting

Reports submitted to AUSTRAC initiate and inform action in detecting and disrupting the abuse of Australia’s financial system.

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Following is how this is achieved:

  • AUSTRAC receives the submitted reports, which are then passed through complex data pipelines to be incorporated into its databases.
  • AUSTRAC’s intelligence analysts look at and analyse both cumulative data and individual reports to detect criminal activity.
  • The AUSTRAC analyst produces an intelligence report, which is written and reviewed for adherence to AUSTRAC’s quality standards and information accuracy. These intelligence reports contain enough information for AUSTRAC’s partners to take action if required.
  • Reports are shared with AUSTRAC’s partner agencies (for example, law enforcement), who take action (such as investigations and subsequent arrests) against people abusing Australia’s financial system.

The Australian Federal Police and AUSTRAC announced some major actions recently, highlighting the combined impact of AUSTRAC’s financial intelligence expertise, regulatory powers, and industry and law enforcement partnerships to disrupt serious and organised crime. The full article is available on the AFP news page at:

Seven syndicate members charged for allegedly laundering almost $229 million

The combination of AUSTRAC data with partner agency intelligence results in sophisticated, highly informed and actionable intelligence products. This action would not be possible without the reports from AUSTRAC’s Reporting Entities.

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