Australian Transaction Reports and Analysis Centre CEO

The Anti Money Laundering and Counter Terrorism Financing Act 2006 establishes the statutory office of the Chief Executive Officer of the Australian Transaction Reports and Analysis Centre (AUSTRAC) (s 209). The Act sets out the CEO’s functions, including AUSTRAC’s regulatory, intelligence, supervisory and enforcement functions, as well as any functions conferred by other Commonwealth laws (s 212). These include administering the AML/CTF Act and overseeing AUSTRAC’s financial intelligence and compliance activities. The Act also provides the CEO with monitoring, investigative and enforcement powers necessary to perform these functions, including powers exercised through authorised officers (Part 13) and the civil penalty and enforcement mechanisms set out in Part 15.