ARTICLE · 06 JULY 2023

AUSTRAC's Latest Enforcement Against Financial Crime

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This partnership reflects a joint commitment to address the global threat of money laundering and terrorism financing.

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AUSTRAC has strengthened its collaboration with the United Kingdom ("UK") in the fight against money laundering, terrorism financing, and other serious financial crimes. In February 2023, AUSTRAC signed Memoranda of Understanding ("MOU") with the UK's Financial Conduct Authority ("FCA") and His Majesty's Revenue and Customs ("HMRC") to enhance information sharing, cooperation and facilitate enhanced supervision of businesses across both Australia and the UK.

This partnership reflects the commitment of both countries to working together in addressing the global threat of money laundering and terrorism financing. The agreements facilitate enhanced engagement on regulatory matters and the exchange of regulatory information, promoting a shared understanding of emerging trends and risks.

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