The Australian Transaction Reports and Analysis Centre (AUSTRAC) announced an expansion of its Fintel Alliance public-private intelligence partnership, elevating the collaborative data analytics hub to a central, ongoing function to scale real-time data sharing and joint analysis with industry and law enforcement. The expanded hub is being built out as a platform for cross-sector data sharing to detect criminal patterns and trends, supported by additional staff and a seconded senior manager from ANZ Bank to help co-lead and develop new pairings between government and industry members. AUSTRAC cited recent operational outcomes, including an exercise using cash deposit transaction data under $10,000 from the four largest banks, comprising more than 50 million data points, which identified major criminal networks now subject to law enforcement action. Recent outputs also include a threat alert on money muling and increased micro-laundering through low-value digital transfers, and a campaign on “scambling”, where unlicensed online gambling platforms advertise on social media and direct victims to scam websites, including in regional and remote Aboriginal communities. AUSTRAC framed the expansion as laying groundwork for future partnerships with tranche 2 entities as tranche 2 industries are brought into its regulated population.
Australian Transaction Reports and Analysis Centre (AUSTRAC) 2025-05-13
Australian Transaction Reports and Analysis Centre expands Fintel Alliance and makes its collaborative data analytics hub a central function
AUSTRAC has expanded its Fintel Alliance, creating a hub for real-time data sharing and analysis with industry and law enforcement to detect criminal patterns. Initiatives include analyzing cash deposits, issuing alerts on money muling, and addressing scams. The expansion prepares for future partnerships with newly regulated entities.