AUSTRAC launches ‘world first’ financial intelligence analyst course
AUSTRAC, the Federal Government’s financial intelligence and regulatory agency, has announced it has concluded the first round of its financial intelligence analyst course (FIAC) in Melbourne.
AUSTRAC said the “world first” FIAC will position “Australia at the forefront of professional expertise in fighting serious financial crime,” including money laundering and terrorism financing.
Developed by AUSTRAC and accredited by Charles Sturt University, with input from law enforcement partners, industry, academia, and US counterpart the Financial Crimes Enforcement Network (FinCEN), the FIAC is designed for current industry personnel, building on participants’ existing experience in generic intelligence principles and processes, AUSTRAC said.
The course is open to both private sector and law enforcement partners and covers collecting and collating financial data and information, using financial analytical tools and techniques to make deductions and judgments, and identifying money laundering/terrorism financing patterns, trends, and risks.
“Financial intelligence plays a critical role in supporting global law enforcement investigations as financial crime is increasingly conducted online and without regard to borders,” said Nicole Rose, AUSTRAC chief executive.
“The Financial Intelligence Analyst Course (FIAC) was specially designed as a shared approach to building skills, capability, and tradecraft to understand, detect, prevent, and disrupt financial crime,” Rose said.
Currently running only in Melbourne, the FIAC is expected to be rolled out in Sydney, Brisbane and Canberra over the next year with plans to offer the course to other regional partner countries in the future.
The first five courses will include over 80 participants already employed in risk, compliance, and intelligence roles from major banks and international remittance services, law enforcement agencies, and AUSTRAC staff.