<ul><li>AUSTRAC is expanding its Fintel Alliance initiative which has been successful in combating financial crime through collaborative intelligence sharing.</li><li>Fintel Alliance, established in 2017, involves major banks, remittance and gambling service providers, and law enforcement agencies sharing real-time data and insights.</li><li>The alliance's efforts have led to the detection of serious crimes including money laundering, child exploitation, and tax evasion by analyzing millions of cash deposit transactions.</li><li>To support its growth, AUSTRAC is increasing staff capacity, enhancing the analytics hub, and engaging more industry partners, with a focus on tackling organized crime and expanding its regulatory oversight.</li></ul>

AUSTRAC to Expand Fintel Alliance Following Success in Combating Financial Crime

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