The Fintel Alliance payment reference project has seen great dividends this year, including the arrests of several high-risk offenders.

The project was initiated in late 2020 following concerns from partners that financial transaction payment text fields were being used to harass victims. A key outcome of the project was a financial crime guide, which helped businesses to identify and report incidents of abuse.

As a result, AUSTRAC saw an increase in suspicious matter reports detailing abusive messaging in financial transactions. These reports allow AUSTRAC to refer to law enforcement and ensure victims are identified and supported.

Australian police agencies report that AUSTRAC referrals have helped to confirm when domestic violence offenders have breached intervention orders and contacted victims through financial transactions. Thanks to referrals, police were able to contact victims and make them aware of their legal options to prevent further harassment. This data has greatly improved outcomes for victims and, in high-risk cases, saved lives.

Intelligence from financial institutions outlined in the crime guide has contributed to the enhanced monitoring of text fields, including:

• safety reporting options for customers being victimised

• blocking payments that contained explicit or threatening language

• machine learning models and algorithms to detect offending.

The uplift in controls and analytical models made possible by the findings of the payment reference project has allowed banks to monitor other areas of technology-facilitated abuse and better protect all their customers. 

The payment reference project was recently featured in the annual Australian Public Service Commission’s State of the Service Report 2022-23. Additionally, the NSW Police Force representative on the Fintel Alliance was recently awarded ‘Employee of the Year’ for her intelligence-led approach to protecting vulnerable members of the community subjected to domestic violence. This technique is the first of its kind and is the NSW Police Force’s method for identifying online domestic violence abuse and breaches via payment text fields.

Your reporting makes a difference

Your detailed suspicious matter reports (SMRs) help AUSTRAC to provide actionable intelligence to our law enforcement partners to disrupt serious crimes, including domestic violence.

If you identify any suspicious transactions, submit a SMR to AUSTRAC. With your help, we can strengthen the financial system and protect the Australian community.