AUSTRACAustralian Transaction Reports and Analysis Centre
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The Judging Panel includes, Tony Sheehan, the Commonwealth Counter-Terrorism Co-Ordinator, Dr Maria Milosavljevic, Chief Information Security Officer for the NSW Government, Dr Alex Johnston, Head of Technology, Thomson Reuters Australia, Alex Scandurra, CEO Stone and Chalk, Paul Xuereb, Secretary Blockchain Association of Australia, Dr John Moss, National Manager, Intelligence, AUSTRAC and Leanne Fry, Chief Information Officer, AUSTRAC.
The Australian Prudential Regulation Authority's (APRA) inquiry into CBA's governance, culture and accountability frameworks and practices appears the more likely forum to identify any widespread failures in risk management and culture, rather than the more narrow AUSTRAC legal proceedings.
AUSTRAC has taken enforcement action against a relatively small number of remitters, struck problematic providers from the Register, and refused registration for others.
The ENTF is an initiative involving the ACC, AUSTRAC, and the Australian Federal Police.
He added: "The independence of the administrative model continues to allow AUSTRAC to build relationships with the financial sector, industry bodies, and the agencies to which our financial intelligence is disseminated.
In fact, both AUSTRAC and FINTRAC have aided FinCEN in developing its own cross-border reporting system by providing FinCEN with demonstrations of their respective systems and recommendations on how to design and implement such a system.
If staff members of these entities suspect that the provision of services is preparatory to a financing of terrorism offense, or that information concerning such provision is relevant to the investigation or prosecution of such an offense, s/he must supply a "suspicious matter" report to AUSTRAC within 24 hours (AML/CTF Act, Part 3, Division 2).
In august, the bank had to contend with a court case filed by financial intelligence agency, AUSTRAC, that alleged that the bank engaged in 'serious and systemic non-compliance' of anti-money laundering laws involving thousands of transactions.
AUSTRAC, Australias financial intelligence agency, will bring together more than 80 future leaders in technology at the inaugural ASEAN-Australia Codeathon in Sydney from 14 to 16 March 2018.
The review is being conducted by the Attorney-General's Department with assistance from AUSTRAC.
A transnational money laundering syndicate is being hunted by the joint forces of the Australian Federal Police or AFP's Operation Zanella, the Australian Crime Commission or ACC, South Australian Police or SAPOL, Australian Transaction Reports and Analysis Centre or AUSTRAC and the Indian Enforcement Directorate or IED in India.
155) For instance, AUSTRAC has the power to transmit confidential banking information to foreign agencies under agreements with foreign regulators.