AUSTRAC’s CEO is in Papua New Guinea (PNG) to handover the TAIPAN IT system, developed by AUSTRAC to support Pacific Financial Intelligence Units (FIUs). This will provide access to faster, more agile systems with enhanced analytical data capabilities to detect illicit financial flows and generate financial intelligence.

The system allows intelligence analysts to identify suspicious financial patterns that can trigger a deeper investigation, to enable partner FIUs to resist criminal and national security threats that undermine the financial security and community safety of the Pacific. 

AUSTRAC’s CEO, Brendan Thomas, has officially handed over the TAIPAN system to the Bank of PNG’s Financial Analysis and Supervision Unit (FASU), PNG’s FIU, at a ceremony in Port Moresby.  

“We are delighted to handover the TAIPAN system to our partner in PNG. It’s a wonderful opportunity to work closely with our neighbours to enhance capabilities and it will place the region in a stronger position to identify, analyse and share financial intelligence,” Mr Thomas said. 

“Uplifting financial intelligence capability in Australia, and across the Pacific is important to regional security, economic stability and community confidence.” 

FASU and the Bank of PNG’s relationship with AUSTRAC started in 2013 when FASU was in the process of being established. Various capacity-building programs between AUSTRAC and FASU over the years have seen FASU emerge and now be able to collaborate and be an active partner and leader amidst its peers in the Pacific. The handover of the Taipan system is a testament of the close relationship that FASU and AUSTRAC have fostered over the years.

The Bank of PNG’s FASU Director Wilson Onea said financial crime is borderless.

“In the blue continent, our strongest link is our weakest link. Ensuring that we continue to build institutional partnerships and capacity is critical to protecting the financial systems that serve our people,” Mr Onea said. 

“We are fortunate to have such a strong collaboration with AUSTRAC and the Australian Government.”      

Deputy High Commissioner, Dr Joanne Loundes, was also present for the launch.

“Australia’s increased support to PNG through the strong AUSTRAC and FASU relationship is a clear example of how Australia is delivering on our commitments under the Bilateral Security Agreement,” Dr Loundes said.

AUSTRAC has delivered TAIPAN to ten FIUs across the Pacific region and today’s handover represents the completion of the program. In November, AUSTRAC handed over the system to Vanuatu, Samoa, Palau and Marshall Islands FIUs during the recent Pacific Financial Intelligence Community plenary meeting in Brisbane, Australia.

AUSTRAC is very proud to support partners in this region to combat existing and emerging money laundering, terrorism financing threats. 

“I am very pleased to announce that AUSTRAC’s TAIPAN FIU system rollout is now complete and this platform is enhancing the ability of FIUs in the region to respond to these risks”, Mr Thomas said.

About AUSTRAC

AUSTRAC (the Australian Transaction Reports and Analysis Centre) is the Australian Government agency responsible for detecting, deterring and disrupting criminal abuse of the financial system to protect the community from serious and organised crime.

Through intelligence led regulation, and enhanced intelligence capabilities, AUSTRAC collects and analyses reports and information to generate financial intelligence. 

Learn more about AUSTRAC.

Media contact

Email: media@austrac.gov.au
Phone: 02 9950 0488