Reporting entities are not just required to submit reports for the sake of it. Reports submitted to AUSTRAC initiate and inform real-world action in detecting and disrupting the abuse of Australia’s financial system. Let’s find out how!

1. AUSTRAC receives the submitted reports, which are then passed through complex data pipelines to be incorporated into our databases.
2. AUSTRAC intelligence analysts look at and analyse both cumulative data and individual reports to detect criminal activity.
3. The analyst produces an intelligence report, which is written and reviewed for adherence to AUSTRAC’s quality standards and information accuracy. These intelligence reports contain enough information for our partners to take action if required.
4. Reports are shared with our partner agencies (for example, law enforcement), who take real-world action (such as investigations and subsequent arrests) against people abusing Australia’s financial system.

The Australian Federal Police (AFP) and AUSTRAC announced some major actions recently, highlighting the combined impact of AUSTRAC’s financial intelligence expertise, regulatory powers, and industry and law enforcement partnerships to disrupt serious and organised crime. You can read the full article on the AFP news page.

The combination of AUSTRAC data with partner agency intelligence results in sophisticated, highly informed and actionable intelligence products. This action would not be possible without the reports from AUSTRAC reporting entities. Keep submitting those high-quality reports – they are making a difference!

To find out more, visit our Reporting page on our website.