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AUSTRAC builds regional capability to combat terrorism and financial crime



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AUSTRAC builds regional capability to combat terrorism and financial crime austrac.gov.au/media/media-releases/austrac-builds-regional-capability-combat-terrorism-and-financial-crime

27 August 2018

Terrorism financing and the illegal movement of money through the Indo-Pacific just got harder with the

commencement of the first regional Financial Intelligence Analyst Course (FIAC) in Brunei today.

First developed by AUSTRAC in early 2017, the FIAC will better equip financial intelligence analysts from across our region to work collectively to prevent, detect and disrupt financial crime.

FIAC is the first formal financial intelligence analysis course available in the region. At the ASEAN-Australia Special Summit in March, Australia and ASEAN agreed to cooperate more closely to fight terrorism and counter violent extremism in the region. As a result, the Department of Foreign Affairs and Trade has funded four regional FIACs to be delivered over the next two years.

AUSTRAC CEO Nicole Rose PSM said the expansion of the FIAC to our regional partners will have a significant impact and will play an important role in protecting Australia’s financial system from criminal exploitation.

“Financial crime is a global issue and terrorists and organised criminal syndicates are using increasingly sophisticated methods to move money around the world,” Ms Rose said.

“Building the capability of our regional partners to combat this threat can only have benefits for Australia.

“The FIAC is taught by law enforcement specialists and participants expand their skills by exploring world leading financial intelligence methodologies, techniques and strategies in detail.

“AUSTRAC is upskilling already competent financial intelligence analysts and improving our collective ability to fight financial crime domestically and internationally.

“AUSTRAC has a long history of international engagement relating to financial intelligence and we continually position ourselves at the forefront of the conversation to combat financial crime on a global level.”

Since its inception, the two week intensive course has been completed in Australia by over 150 financial analysts from within the Home Affairs portfolio, state and federal law enforcement, private sector analysts from the finance and banking sectors, and financial intelligence analysts from the Indonesian and New Zealand governments.

The Regional FIACs have been adapted to the ASEAN context and environment and there are 20 participants attending the first course in Brunei from all 10 ASEAN country Financial Intelligence Units.