Australian Transaction Reports and Analysis Centre (AUSTRAC) is an Australian government financial intelligence agency responsible for monitoring financial transactions to identify money laundering, organised crime, tax evasion, welfare fraud and terrorism financing. AUSTRAC was established in 1989 under the Financial Transaction Reports Act 1988. It implements in Australia the recommendations of the Financial Action Task Force on Money Laundering (FATF), which Australia joined in 1990.
Federal Court dismisses disclosure class actions against CBA
The judge found even though Commonwealth Bank was aware of problems before AUSTRAC’s 2017 case, it had not breached continuous..
Sydney Morning Herald