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CEO statement: Departure from AUSTRAC

Yesterday I formally announced my resignation from AUSTRAC to take up a new opportunity with Hong Kong Shanghai Banking Corporation (HSBC) based in Hong Kong. 

Over the past two and a half years, AUSTRAC has undergone dramatic change, which has culminated in an organisation that is more agile, innovative, flexible and influential. Our successes are diverse and world-leading. 

We established the Fintel Alliance – a world-first collaboration with the financial sector to detect, understand and disrupt financial crime and terrorism. I want to particularly acknowledge the support from key government and industry partners – without their support, this initiative would not have been possible. 

With our international partners, particularly our close friends in Indonesia – Pusat Pelaporan dan Analisis Transaksi Keuangan (PPATK), we held the world’s first Counter-Terrorism Financing Summit in Sydney, bringing together government, industry, academia and community experts to examine and respond to the threat of terrorism.

More recently, we achieved the highest ever civil penalty in Australia ordered by the Federal Court – a clear message that AUSTRAC is willing to enforce its powers when required.  

These successes are not just mine, but they are the successes of everyone who is, or ever has been part of the AUSTRAC family. 

These achievements speak to the culture of AUSTRAC. A culture that is always evolving, willing to take risks, to embrace change, step outside the traditional regulatory mindset to collaborate with industry, and to work together as One AUSTRAC to drive outcomes that protect the Australian community. I have truly been fortunate to lead an organisation of extraordinary people. 

I want to also acknowledge the strong support for our vision received from industry, particularly CBA, NAB, Westpac, ANZ, Western Union, PayPal and Thomson Reuters, as well as partners in academia, non-government organisations and the community. 

It would be remiss of me not to acknowledge the legacies of previous CEOs of AUSTRAC. Building on their hard work has been critical to our success. They built the foundations of what has today become one of the leading financial intelligence agencies in the world. 

I also acknowledge and thank the Minister for Justice, the Hon. Michael Keenan MP, and the Government for affording me this privilege and unique opportunity.  

I am extremely proud of the achievements we have realised and I can say without hesitation it has been a privilege and one of the highlights of my 35-year career as a public servant to lead such a professional and dedicated organisation. 

Whilst I look forward to the new journey that lies ahead, I will continue to maintain a strong interest in seeing AUSTRAC continue to excel and harness new opportunities in the fight against serious financial crime and terrorism. 


Paul Jevtovic APM
Chief Executive Officer

Last modified: 13/04/2017 10:31