Joint media release: Keeping pacific remittances affordable and safe from crime
MINISTER FOR FOREIGN AFFAIRS
The Hon Julie Bishop MP
MINISTER FOR JUSTICE
MINISTER ASSISTING THE PRIME MINISTER FOR COUNTER-TERRORISM
The Hon Michael Keenan MP
The Australian Government is committed to keeping financial remittance services between Australia and the Pacific open, affordable and safe from criminal abuse.
Remittance Corridors: Australia to Pacific Island countries - Money Laundering and Terrorism Financing Risk Assessment, launched today, provides valuable information for banks and remittance businesses on the risks of money laundering and terrorism financing. The assessment found that while the risks associated with these transfers are currently low, governments and businesses must remain vigilant.
The study brought together extensive expertise from the remittance sector, and was a collaboration between Australia’s financial intelligence and regulatory agency, AUSTRAC, and the Department of Foreign Affairs and Trade (DFAT).