25 September 2023

AUSTRAC cashes in on China

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The Australian Transaction Reports and Analysis Centre (AUSTRAC) has continued to build its global network for collecting financial intelligence by posting an analyst to China.

Minister for Home Affairs, Peter Dutton said the Centre’s first ever analyst in China would be based in Guandong, in the southern Province of Guangzhou, from December, and would work closely with China’s financial intelligence unit (FIU).

Chief Executive of AUSTRAC, Nicole Rose (pictured) said the posting represented a significant boost to Australia’s intelligence capability in the region.

“The Guangzhou Province is a strategically important area for Australia in the fight against transnational serious and organised crime and this increase in our financial intelligence capability will further enhance Australia’s ability to work with China to clamp down on organised crime syndicates in the region,” Ms Rose said.

“Transnational serious and organised crime is motivated by profit and is estimated to cost Australians up to $47.4 billion annually,” she said.

“AUSTRAC’s job is to follow the money and provide crucial intelligence to law enforcement to support them in holding criminals to account.”

She said the Australian Federal Police had been working in China for some years with significant results.

“This AUSTRAC posting will further strengthen information sharing and law enforcement relationships that are so important for both nations, and the protection of our respective peoples,” Ms Rose said.

The Guangzhou posting follows the appointments earlier this year of AUSTRAC officers to the Philippines and Malaysia which complement AUSTRAC staff based in Indonesia.

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