AUSTRAC MEDIA RELEASE: As asserted in the Senate committee hearing in Sydney today, AUSTRAC has found no evidence to support claims that halal certification fees fund terrorism.
We first put this information on the record in November 2014, and stand by it.
As Australia’s financial intelligence unit, AUSTRAC carries out comprehensive analysis of our nation’s financial sector.
Last financial year alone, as a result of our ongoing collaboration with industry, we received more than 96 million financial transaction reports and more than 86,000 suspicious matter reports from our 14,000 reporting entities.
Our position on this matter is based on our analysis of this information, and our ongoing partnerships with industry, regulators and national security and law enforcement agencies.
As part of AUSTRAC’s role in the national security environment, the dissemination of financial analysis aims to assist in the identification terrorism financing risks, including the misuse of reporting entities and/or any criminal abuse of Australia’s financial sector.
These reports allow our analysts to make judgements about the potential risk of terrorism financing and refer relevant information to investigating agencies, including the Australian Federal Police.
The intelligence we produce also allows us to target the use of enforcement/compliance action to further harden our financial sector against the threats of money laundering and terrorism financing.