AUSTRAC has established an operational response to the unfolding Israel/Gaza conflict. Known as Operation SALEM, it covers a range of AUSTRAC capabilities and activities including:

• suspicious matter report (SMR) profiles and triage
• responding to requests for intelligence to support partner agencies
• industry engagement (especially through the Fintel Alliance)
• supporting targeted financial sanctions.

AUSTRAC as Australia’s Financial Intelligence Unit (FIU) works closely with Australian Federal Police financial investigators in the Joint Threat Financing Group, and the Australian Sanctions Office in the Department of Foreign Affairs and Trade.

AUSTRAC has also joined a new group of likeminded foreign FIU partners, to share intelligence, cases, typologies and industry guidance on the crisis. Their goal is to detect, trace and disrupt high-risk funds linked to listed terrorist organisations.

AUSTRAC has also already provided Fintel Alliance members with guidance on how industry monitoring and reporting can assist. This includes activities such as:

• direct funds transfers to conflict regions where there is a concern of terrorism financing, including crowd funding and diversion of donations to charities
• planned travel of individuals to take part in the conflict
• sanctions monitoring for transactions related to Hamas, Hezbollah and Islamic Revolutionary Guard Corps (IRGC)
• domestic financial activity that indicates a rise in religiously, racist or ideologically motivated violent extremism activity in response to the conflict.

How can I help?

You have an important role to play to help us stop financial crime. You should submit a suspicious matter report to AUSTRAC if you identify any suspicious transactions.

We have created a range of fact sheets to help you detect and report suspicious activity, including one on Effective suspicious matter reporting. With your help, we can strengthen Australia’s financial system and protect our community.