AUSTRAC (Australian Transaction Reports and Analysis Centre) is the Australian Government’s financial intelligence unit, and anti-money laundering and counter-terrorism financing (AML/CTF) regulator. AUSTRAC has been protecting Australia’s financial systems, businesses and the wider community from criminal abuse for over 30 years.
AUSTRAC’s dual roles of regulation and financial intelligence work together to provide information and analysis of transactions to detect, deter and disrupt serious crimes such as terrorism, money laundering, organised crime, child sexual exploitation, illicit drugs, wildlife smuggling and outlaw motorcycle gangs. In partnership with industry and law enforcement, AUSTRAC generates real-life outcomes that safeguard the Australian community and national interest.
AUSTRAC was established in 1989 under the Financial Transaction Reports Act 1988 to implement the recommendations of the Financial Action Task Force on Money Laundering (FATF), which Australia joined in 1990. AUSTRAC then continued under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act).
A medium-sized government agency of approximately 400 APS staff, AUSTRAC is the world’s only financial intelligence unit that it is also a regulator. This unique structure earns AUSTRAC an exceptional reputation at home and abroad.
AUSTRAC employees thrive on interesting and niche work, develop highly specialised skills and capabilities, and foster a strong sense of purpose and social responsibility. Employees at AUSTRAC commonly say they feel like they are contributing to something bigger and are deeply engaged with AUSTRAC’s strategic direction and purpose.
This unique financial intelligence space gives AUSTRAC’s employees access to a broad range of professional networks. AUSTRAC is included within the Australian Public Service, the National Intelligence Community, the Home Affairs Portfolio and works closely with law enforcement, public and private partners, industry and international networks. In addition, employees have the opportunity to collaborate with other financial sector regulators such as the Australian Securities and Investments Commission, the Australian Prudential Regulation Authority and the Australian Competition and Consumer Commission.
AUSTRAC has a strong presence internationally and plays an active role in international organisations that work to combat terrorism and financial crime, including Financial Action Task Force (FATF), EGMONT Group and Asia/Pacific Group on Money Laundering (APG). Employees benefit from opportunities to represent AUSTRAC around the world, and to deepen our relationships through deployments in Indonesia, Malaysia, The Philippines, China, the United States of America and the United Kingdom.
AUSTRAC’s ‘One AUSTRAC’ philosophy recognises that employees are stronger together than as individuals. As an organisation, this is reflected in AUSTRAC’s role and the interconnected nature of its regulatory and financial intelligence functions, as well as agency-wide corporate support. The ‘One AUSTRAC’ concept was created by employees for employees, who came together from all parts of the agency to articulate cultural traits that are unique to AUSTRAC and necessary to deliver AUSTRAC’s vision.