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Our capability

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We recognise that our effectiveness as a national and global leader in AML/CTF is underpinned by having the right, skilled, motivated and supported people, and the right systems and processes in place.

To allow us to achieve our organisational purpose and activities, we have commenced two integrated initiatives – an international and domestic footprint review, and a capability review.

The international and domestic footprint review is designed to look at where we are positioned now and where we should be in the future, both nationally and globally.

The capability review involves a review of our partnerships, people, processes and systems.

These initiatives will provide us with an ongoing program to identify and build appropriate levels of capability in the agency.

Together with the strategic workforce plan, they will deliver a detailed assessment and understanding of our current and future workforce capabilities to ensure we are able to derive optimal value from our new operating model and to maximise our outputs.

Uplifting our intelligence, regulatory, policy and collaborative capabilities is key to discovering, understanding and responding to ML/TF threats and risks. Planned improvements to our systems capability will help us reshape our workforce.

Our people

During 2015-16 we will deliver a strategic workforce plan aligned with the agency’s strategic plan and complementary to the capability review.

We recognise that we need to consider our current and future capability requirements and gaps, and align our workforce based on the specialist skills required to deliver the agency’s unique product offering. The strategic workforce plan will support an agency strategic shift towards developing multidisciplinary skillsets that enable innovative responses to future demand.

Our systems

To support the agency in its work and to keep pace with significant growth in the agency’s data holdings, AUSTRAC invests significantly in its IT systems. Over the next four years we will collaborate with stakeholders to develop and share technology solutions and intellectual property, to collectively keep pace with the changing landscape.

Over the next two years, we will continue to implement a strategic program to update the business and IT architecture relating to the capture and management of transaction report data reported to AUSTRAC. This includes consideration of how data is collected (covering both business processes and IT systems), how it is processed and managed, and how quality is actively managed across the data lifecycle. This program provides the delivery mechanism for the government’s investment in AUSTRAC as part of broad counter-terrorism measures.

We will continue to work with the Australian Taxation Office (ATO) to improve their data matching capability. We will also work with the Department of Human Services (DHS) to deliver an automated data matching capability between AUSTRAC and DHS data. This will improve the integrity of the welfare system and benefit other agencies across government that utilise AUSTRAC information. In addition, capital funding will be used to replace essential end-of-life IT equipment to ensure continuity of services and the timely replacement of assets.

We will also use capital funding to meet our direct operational requirements arising from the domestic footprint initiative and capability review. In 2015-16, we will continue the global footprint review which commenced in January 2015, with the outcome of this review identifying where we need to position ourselves nationally and globally to support delivery of our strategic plan. The footprint will enable us to enhance existing collaborative relationships with our partners to better achieve our vision.

Major initiatives

The major initiatives we will undertake during 2015–19 are:

The centre of excellence 

We will establish a national centre of excellence for financial intelligence that brings together government and industry in a collaborative and secure information sharing environment.

It will:

  • identify and report on financial intelligence gaps, emerging trends and strategic priorities related to terrorism, serious financial crime and serious organised crime, and coordinate international exchanges of information through government and industry channels.
  • provide the means for AUSTRAC, government agency personnel and relevant industry personnel to come together allowing for a real-time environment of intelligence, information and knowledge sharing and dissemination.
  • provide a tangible and effective response to increased industry expectations for an enhanced level of service from AUSTRAC as the financial intelligence unit and anti-money laundering regulator.

Reshaping the AML/CTF framework

The review of the Act and the FATF mutual evaluation report provide a unique opportunity to improve our framework for information collection, our relationship with partners (particularly industry), and to streamline the domestic AML/CTF regime and reduce, where possible, the regulatory impact.

International and domestic footprint

AUSTRAC’s footprint supports its strategic objectives to fulfil Australia’s national and international obligations to combat and address matters of concern relating to money laundering and financing of terrorism, and by addressing these objectives continue to enhance relations, collaboration and information sharing networks with national partners, foreign jurisdictions and national and international organisations. It is aligned to and integrated with the current strategic direction. The footprint will be more targeted and agile with increased national and international influence and operating activity.


These major initiatives will be supported by the following strategies:

Collaboration on technology

We will collaborate with stakeholders to develop and share technology solutions and intellectual property, to collectively keep pace with the changing landscape.

Developing our operating model

We will continue to improve our operating model’s ability to create value, prioritise actions, transform information into intelligence, and deliver tailored products and services that establish AUSTRAC as a national and global leader in AML/CTF.

Investing in capability and managing talent

We will manage an ongoing program to identify and build appropriate levels of capability (partnerships, people, processes and systems) to achieve our strategy. We will foster the right skills and support for our people to achieve excellence.

Embedding an innovation culture

We will identify and implement new ways to achieve our outcomes, and embed a culture of continuous improvement in our business approach.

Last modified: 28/11/2016 15:13