Australia has recently undergone a Financial Action Task Force (FATF) evaluation. The report will be published shortly. 1
In this Radio National program, the ABC’s Fran Kelly explores the recent review with a focus on the question of how effective Australia is at implementing its own laws. AUSTRAC’s role receives particular attention, especially the emphasis it has on education rather than regulation and enforcement.
If Australia is criticised in the FATF report, we can expect to see a reaction by AUSTRAC, who may start taking a harder line on financial institutions.Footnotes