BEFORE YOU GO...
Check how Shufti Pro can verify your customers within secondsRequest Demo
Australia’s AML Agency AUSTRAC has partnered with the Pacific Financial Intelligence Unit to counter money laundering as a measure of boosting regional security
Australian anti-money laundering agency AUSTRAC is hosting the inaugural Pacific Financial Intelligence Analyst Course which started at the Australian National University (ANU) today.
Transnational crime syndicates are taking advantage of the way new technologies are altering the financial environment in the Pacific. These weaknesses are minimised through AUSTRAC’s collaboration with Pacific financial intelligence units, which also makes sure that criminals do not view the Pacific Islands as an appealing conduit.
The course will emphasise information exchange in order to improve financial intelligence analysts’ capacity to recognise questionable financial patterns that may warrant a more thorough inquiry. In order to hide the source of their finances, criminals frequently use money laundering as a component of their crimes.
The training will cover a variety of financial crimes, such as sophisticated money laundering, organised crime, cybercrime, narcotics trafficking, and corruption, and will improve participants’ abilities to detect, deter, and disrupt these financial crimes in the region.
The CEO of AUSTRAC, Nicole Rose PSM, stated that the nature of the financial crimes transcends borders, and underlies the need for international cooperation and regional solution.
“Criminal and security threats to financial systems go to the heart of national security and prosperity, whether transnational organised crime or corruption. The ease of movement of goods, people, and money globally means an agile and collaborative approach is needed to combat financial crime,” stated Ms Rose.
“We need to follow the money as it crosses borders and enters different financial ecosystems, and we do this by sharing intelligence and financial tools with partners.”
“This is why AUSTRAC is delivering this course: to share financial intelligence tradecraft with our Pacific partners, and uplift capability across our region, so that together we can combat the challenges of evolving financial crime threats.”
The Pacific Financial Intelligence course is being held at the Australia Pacific Security College (ANU). The participants’ travel costs are covered as part of the AUSTRAC pacific Island partnership program which is funded by the Department of Foreign Affairs and Trade.