It’s no surprise that our global financial system, new technologies and financial products create a challenging environment for AUSTRAC as Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) regulator.

Serious financial crime continues to evolve, with transnational serious and organised crime groups harnessing new technologies, professional facilitators and offshore service providers.

To address these challenges and protect the Australian community and businesses like yours, we work in partnership with governments and agencies around the world. 

This includes: 

• engaging in regional and international forums 
• providing technical assistance or training to other financial intelligence units (FIUs) across the globe
• exchanging information and intelligence.

Regional partners focus on transnational crimes

We recently hosted our ASEAN counterparts for the Financial Intelligence Consultative Group (FICG) Plenary. The head of the Cook Islands’ FIU and representatives from the Japanese FIU also attended as observers. 

The FICG aims to promote, enhance and strengthen collaboration on anti-money laundering and counter-terrorism financing. AUSTRAC Deputy CEO Intelligence John Moss is co-chair of the FICG. He says that forming the group eight years ago has helped build trust and expertise among the members. 

“Transnational, serious and organised crime is borderless. So if we try to prevent and disrupt it within our borders, we have no chance of success,” he said. 

Dr Moss said over the next year the group will focus on a regional information-sharing platform and combating cyber-enabled fraud and the financing of child sexual exploitation. 

“All of our member countries are different, but each of these actions is a commitment to protect the most vulnerable members of the community.”

Financial intelligence training 

In May 2024, participants from eight countries arrived in Sydney to complete AUSTRAC’s world-class Financial Intelligence Analysts Course (FIAC) through the Indo-Pacific Economic Framework (IPEF). The FIAC is a shared approach to building skills, capability and tradecraft to understand, detect, prevent and disrupt financial crime.

During the one-week intensive course, participants improved their knowledge in collecting and analysing financial data, identifying patterns in financial crimes and other topics. It was also an opportunity to network and build lasting professional relationships with our counterparts in the region.

Global forums 

AUSTRAC is also a founding member of the Egmont Group of 174 FIUs from around the world. 

It provides member countries with a platform to securely exchange financial intelligence and expertise to combat money laundering, terrorism financing (ML/TF) and related offences.

In June AUSTRAC CEO Brendan Thomas attended the Egmont Group’s 2024 Plenary in Paris. The event was hosted by France’s FIUTracfin and focussed on the theme ‘The Next Generation FIU’. The theme featured throughout the plenary and will ensure that the Egmont Group and its members continue to stay abreast of new and emerging money laundering, terrorism financing and predicate crime typologies, methods, and trends.

Find out more about Egmont and AUSTRAC’s work with other international partners on our website.