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CEO's foreword

I, as the accountable authority, am pleased to present AUSTRAC’s corporate plan 2016–20. This corporate plan has been prepared under paragraph 35(1)(b) of the Public Governance, Performance and Accountability Act 2013 and Public Governance, Performance and Accountability Rule 2014.

Countering money laundering and terrorism financing (ML/TF) is not something we can achieve alone. As Australia’s financial intelligence agency, we work with our partners to detect, understand and disrupt ML/TF threats that affect the Australian community.

AUSTRAC works closely with financial institutions to harden the sector and prevent exploitation by criminals and those who seek to harm our way of life.

Collaboration with government ensures our ML/TF regulatory settings are appropriate and effective in mitigating risks. We join forces with law enforcement and national security agencies to prevent and disrupt criminal and terrorist activity.

We educate the community about what ML/TF risks and harms mean to everyday Australians. This includes how it undermines our safety and security and economy, and how it adds to the cost of doing business.

Our international network now comprises over 83 formal partners. We are expanding our footprint to tackle transnational crime and cross-border movement of terrorism funding.

Our 300-strong staff, with 40,000 financial sector employees, 83 international partners and 24 million Australians, will help achieve AUSTRAC’s vision and purpose. We will achieve our vision through strategically focused capability enhancement, fostering our talent and instilling innovation and collaboration.

Our strategic priorities are built to:

  • adapt our strategic posture to position us for the future
  • leverage our success to shape our environment
  • foster talent for a high performance culture
  • make sure we turn strategy into reality.

Our major initiatives - an intelligence-led centre of excellence, reform of the anti-money laundering and counter-terrorism financing (AML/CTF) framework and growing our international footprint - will shape the way we work with our partners. Our effective regulation of industry will continue to play an important role in Australia’s economic growth.

In 2016–17, we will pursue a trusted collaborative working relationship with the financial industry and our partners. This will enable more effective risk management, detection and disruption of financial crime and better regulation.

I am excited to lead AUSTRAC and its committed professionals as we build on our past achievements and construct enduring foundations for our future.

Paul Jevtovic APM
Chief Executive Officer
AUSTRAC

29 August 2016

Last modified: 29/08/2016 10:12