Go to top of page

Who we are

Our vision

A financial system free from criminal abuse.

Our purpose

Our purpose is to discover, understand and disrupt criminal financial activity in the following ways:

  • Discover - collect and share actionable intelligence to enable us and our partners to identify criminal financial activity
  • Understand - collaborate with our partners to analyse and understand new and emerging threats and risks
  • Disrupt - disrupt and prevent exploitation of the financial system and criminal abuse through our compliance and intelligence activities

AUSTRAC has a key role in protecting the Australian community and economy from the risks and threats of ML/TF.

As the interface between national security, law enforcement and revenue agencies and industry, we convert financial information into actionable financial intelligence.

Our purpose is underpinned by the objectives of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006:

  • to fulfil Australia’s international obligations, including to combat ML/TF
  • to address matters of international concern, including the need to combat ML/TF
  • by addressing those matters of international concern, to enhance Australia’s relations with foreign countries and international organisations.

Our principles

AUSTRAC is committed to collaboration across the agency, government, industry and academia to bring our vision to life.

Our people work in one of the most exciting agencies in the Australian Public Service – innovation is in our DNA.

Everything we do demonstrates our core leadership principles:

  • Innovation
  • Collaboration
  • Inspiration

We nurture innovation pathways by seeking and supporting new ideas. We are an agile agency that can adapt to our constantly changing environment. Our people collaborate to solve problems, drive business improvements and increase capability across AUSTRAC.

At the core of our leadership framework is a simple principle – that leadership in AUSTRAC is delivered not only by one individual or by the most senior office holders, but by everyone. We are all leaders in AUSTRAC and we inspire each other every day through our work serving the national interest.

Our frameworks, policies and culture aim to support everyone’s aspirations to leadership. AUSTRAC’s Women in Leadership program for example, recognises and responds to the challenges confronting women aspiring to leadership.

Our strategic priorities

AUSTRAC has a central role in supporting whole-of-government initiatives for AML/CTF and this is why our strategic priorities will be integrated into our business model.

We will maximise our resources – people, finances, knowledge, technology and workplace – to achieve the following strategic priorities.

AML/CTF Reform

Contributing to legislative reform to strengthen, simplify and modernise the existing regime, particularly Australia’s AML/CTF framework. AUSTRAC will work collaboratively with the Attorney-General’s Department to implement the 84 recommendations contained in the report on the statutory review of the AML/CTF Act, Rules and Regulations.

AUSTRAC works with government and industry partners to develop a flexible regulatory environment that maximises regulatory efficiency and effectiveness. We support an intelligence-led, risk-based approach that protects the Australian community and allows the economy to flourish.

National centre of excellence

Establishing a financial intelligence centre of excellence in response to increased reporting and the complexity of financial services.

The centre of excellence will be developed in partnership with government and industry.

It will harness collaboration and innovation to identify current risks, challenges and trends associated with ML/TF. The centre will also help detect and respond to other forms of financial crime.

International collaboration

Growing our international footprint through engagement and influence to shape the global AML/CTF environment through intelligence, finance and policy advocacy.

Our international network will expand our presence in Indonesia, Europe, the Middle East and China to improve access and exchange of information, intelligence and capabilities. AUSTRAC will provide unique insights on macro-economic trends, global business issues and risks that might affect Australia’s economic interests. We will continue to work with and support key forums, such as:

  • the Financial Action Task Force, (our CEO is the Head of Australia’s delegation and our Deputy CEO Operations is Co-chair of the Risk, Trends and Methods Group)
  • the Asia/Pacific Group on Money Laundering (our CEO is Head of Delegation and National Manager, International is Co-chair of the Mutual Evaluation Working Group) and
  • the Egmont Group of Financial Intelligence Units (our CEO is Head of Delegation and Deputy CEO Operations is Chair of the Information Exchange Working Group and member of the Egmont Committee).
Last modified: 29/08/2016 10:12