Who’s who in the AML picture

INTERNATIONAL, federal and state agencies have roles in Australia’s anti-money laundering and counter-terrorism financing regime. Here are four of the main players:

AUSTRALIAN FEDERAL POLICE

The AFP investigates and prosecutes money laundering that affects the Commonwealth. These crimes are connected with serious and organised crime and can include the illegal drug trade, crime syndicates like mafias, and outlaw motorcycle gangs.

Operation Avarus is the AFP’s anti-money laundering strategy, which guides the work of investigation and intelligence teams. The AFP is headed by Commissioner Reece Kershaw.

AUSTRAC (Australian Transaction Reports and Analysis Centre)

AUSTRAC is Australia’s anti-money laundering and counter-terrorism financing regulator and financial intelligence unit. The federal agency uses financial intelligence and regulation to disrupt money laundering, terrorism financing and other serious crime. The agency is responsible for supervising compliance with anti-money laundering regime requirements and for collecting and analysing financial intelligence.

In the dual roles, AUSTRAC oversees compliance of thousands of Australian businesses and provides intelligence to domestic and international agencies in law enforcement, national security, human services, and revenue. AUSTRAC’s chief executive is Brendan Thomas.

AUSTRALIAN CRIMINAL INTELLIGENCE COMMISSION

The Australian Criminal Intelligence Commission provides intelligence in a bid to combat threats to Australia from transnational serious and organised crime, including from money laundering. It has been involved in joint money laundering operations with state police.

Part of the Attorney-General’s portfolio and a member of the international Five Eyes Law Enforcement Group, the commission analyses and disseminates intelligence information and advice at all levels of government. ACIC’s chief executive is Heather Cook.

FINANCIAL ACTION TASK FORCE 

FATF is an inter-government body that sets global standards on anti-money laundering and counter-terrorism financing. Its international standards promote effective implementation of legal, regulatory and operational measures to combat money laundering, terrorist financing and other financial financial threats. FATF President is Mexico’s Elisa de Anda Madrazo.