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AUSTRAC calls on FinTechs and start-ups to make contact about AML/CTF

Start-up businesses and FinTech operators can now easily seek advice on Australia’s anti-money laundering and counter terrorism financing (AML/CTF) regime directly from Australia’s financial intelligence agency, AUSTRAC.  

A dedicated online contact form is now available on the AUSTRAC website. 

Paul Jevtovic, CEO of AUSTRAC, said that his agency recognises the growth of FinTechs and start-ups in the finance sector and aims to support innovative businesses looking to introduce new or different financial products or services.

“We want to assist new or non-regulated businesses to understand more about the AML/CTF regulatory framework and how it may affect their business,” Mr Jevtovic said. 

“We encourage and support innovation in the finance sector, but we also have a responsibility to prevent and manage money laundering and terrorism financing risks and vulnerabilities. 

“To achieve these objectives, we ask businesses to engage with us openly so we’re able to understand what they do, how they do it, and the possible benefits and risks of their products.”

AUSTRAC’s new webpage for FinTechs and start-ups provides information about the AML/CTF regime and AUSTRAC’s role, and provides an avenue for businesses to directly engage with AUSTRAC’s Policy and Guidance team and seek further information. 

“We strive to be a regulator that is known for supporting and contributing to innovation and the benefits it can bring to the Australian community,” Mr Jevtovic said.

“We recognise that industry is our first line of defence and we continue to work in partnership to address the global challenge of countering serious and organised crime.  

“Importantly, we want to create an environment that is both conducive to innovation within industry, but also resilient enough to safeguard the integrity of Australia’s financial system and the economy.”

Access the new online contact form for FinTechs and start-ups here.


Media contact

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Last modified: 03/11/2016 14:19