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FIAC future in tackling Financial Crime

August 28, 2018

 

 

A new regional course will go one step further in tacking financial crime  and terrorism in the Asia-Pacific region.

 

This comes before the annual Counter-Terrorism Funding Summit looking where the Asia-Pacific nations come together to address strategies how to tackle terrorism and terrorist financing.

 

Earlier this year the then Minister for Law enforcement and Cyber Security Angus Taylor called terrorist financing an ‘evolving challenge’.

 

“To be truly effective in tackling cybercrime and terrorism financing, international collaboration that leverages expertise and new technology across various business sectors is vital,” Taylor added.

 

The then minister said that this in the context for the Codeathon that was held earlier this year.

 

FIAC and the Future

The Australian Transaction Reports and Analysis Centre (AUSTRAC) said that the Financial Intelligence Analyst Course (FIAC), which they were involved in developing last year, officially launched in Brunei earlier this week.

 

AUSTRAC said that this initiative is the first ‘formal’ one for the region taking a collective approach to tackle financial crime.

 

“Financial crime is a global issue and terrorists and organised criminal syndicates are using increasingly sophisticated methods to move money around the world,” AUSTRAC CEO Nicole Rose said. “Building the capability of our regional partners to combat this threat can only have benefits for Australia.”

 

The financial intelligence unit (FIU) said that 150 analysts have completed the course and that it has been adapted to the ASEAN context and that this the course that has been launched in Brunei earlier this week.

 

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