(AUSTRAC)
Attorney-General's
AUSTRAC's purpose is to protect the integrity of Australia's financial system and contribute to the administration of justice through our expertise in countering money laundering and the financing of terrorism. AUSTRAC operates with two important roles: - Anti-Money Laundering / Counter-Terrorism Financing Act 2006 obligations - AUSTRAC oversees the compliance of Australian businesses, defined as 'reporting entities', with their requirements under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 and the Financial Transaction Reports Act 1988. These requirements include: implementing programs for identifying and monitoring customers and for managing the risks of money laundering and terrorism financing; reporting suspicious matters, threshold transactions and international funds transfer instructions; and submitting an annual compliance report. - AUSTRAC intelligence - In its intelligence role, AUSTRAC provides financial information to state, territory and Australian law enforcement, security, social justice and revenue agencies, and certain international counterparts. The intelligence provided has been analysed by highly qualified AUSTRAC personnel who use sophisticated tools to identify information that can assist AUSTRAC's partner agencies to investigate and prosecute criminal and terrorist enterprises in Australia and overseas.
13 3677
Appropriations 64551000
Departmental expenses 68204000
Average staffing level 308
Level 7, Tower A, Zenith Centre, 821 Pacific Highway
Chatswood NSW 2067
Australia

Key People

Further information

  • Type of Body

    A. Non Corporate Commonwealth Entity

  • GFS Sector Classification

    GGS

  • Established By / Under

    PGPA Rule (Schedule 1)

  • Annual Report Prepared and tabled?

    Yes

  • Classification

    A. Principal

  • Materiality

    Small

  • GFS Function / Sector Reported

    Public Order and Safety

  • PS Act Body

    Yes - Statutory Agency

  • Auditor

    ANAO

  • Creation Date

    15 June 1988

  • Postal Address

    PO Box 5516, West Chatswood NSW 1515

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