Media releases

AUSTRAC has issued a remedial direction to Australian Military Bank Ltd (AMB) requiring the mutual bank to review and uplift its compliance with Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) laws. The action follows ongoing regulatory engagement with AMB which identified concerns related to the effectiveness of AMB’s AML/CTF systems and controls.

Two more Australians have been arrested and charged in connection to a major joint international MDMA drug investigation originating in the Netherlands in 2019.

It will be alleged the syndicate has claimed more than $10 million since 2017 in NDIS funding. The value of the fraudulent claims are alleged to be in the millions. Investigations continue into the scale and total value involved.

AUSTRAC has today launched its ML/TF risk assessment of the junket tour operations (JTOs) sector.

A new financial crime guide will help businesses understand, identify and report suspicious financial activity to prevent fraud against the National Disability Insurance Scheme (NDIS). NDIS fraud is not a victimless crime and has a serious impact on the Australian public and economy, by stealing directly from the pockets of Australians living with disability.

Released today, the Fintel Alliance Performance Report 2019-20 outlines the impact the Fintel Alliance is having on protecting the Australian financial system and community from serious and organised crime.

The Fintel Alliance is AUSTRAC’s public-private partnership that brings together the financial intelligence expertise and skills of government intelligence and law enforcement agencies and Australia’s largest financial institutions and businesses to deliver new, joined up solutions to combat serious and organised crime.

This is a joint media release between NSW Police Force and AUSTRAC 

Two men have been charged as part of ongoing investigations into an international money-laundering operation.

In June 2020, officers attached to Sutherland Police Area Command established Strike Force Royala to investigate a criminal syndicate responsible for a number of fraud-related matters and the illegal transfer of a substantial amount of funds to offshore accounts.

The Federal Court of Australia has today ordered Westpac to pay a $1.3 billion penalty for its breaches of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act).

A new financial crime guide released today will help businesses to combat Australia’s illegal wildlife trafficking trade by identifying, targeting and reporting suspicious financial activity.

Westpac and AUSTRAC have today agreed to a 1.3 billion dollar proposed penalty over Westpac’s breaches of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act). Westpac and AUSTRAC have agreed that the proposed penalty reflects the seriousness and magnitude of compliance failings by Westpac.