A Safe Place to do Business is Getting Safer

Safe Place to do business

Australia’s financial intelligence agency AUSTRAC has teamed up with 18 other public and private partners to combat serious financial crime.

The launch of the Fintel Alliance is the first of its kind in the world and brings together the combined expertise and knowledge of Government and industry.

“The Alliance will identify, target, disrupt and deter money laundering and terrorism financing in a way never-seen-before in the world. It has its sights firmly set on terror financiers and gangs who deal in proceeds of crime, as well as white-collar criminals who think their crimes are victimless”, the Minister of Justice said.

The Alliance has created an Innovation Hub where government and industry analysts can work together.

To supplement the Hub, the Alliance will also be launching later this year the Financial Intelligence Analyst Course. This will train analysts across law enforcement, intelligence agencies and businesses.

Australia is acknowledged as a world leader in combating financial crime. The UK Financial Intelligence Unit has joined the Alliance, and AUSTRAC is in discussions with other potential international partners.

The Fintel Alliance will help to ensure “Australia is the most difficult jurisdiction in the world for organised crime and terrorism financiers to operate.”