The award recognises the collaborative efforts of theFintel Allianc to identify and disrupt organised crime syndicates using automatic teller machines (ATMs) to launder the proceeds of crime.

Through the Fintel Alliance,AUSTRApartnered with the Western Australia Police Force, ANZ bank, Commonwealth Bank of Australia, NAB and Westpac bank to commence a joint intelligence operation in 2020.

The Fintel Alliance was able to identify money laundering syndicates looking to move the proceeds of crime through ATMs around Australia. To date, the project has led to 13 arrests across the country, as well as the seizure of over $4 million in cash and assets.

AUSTRAC CEO, Nicole Rose, said the award speaks to the success of the public-private partnership to break down silos across industry and law enforcement to disrupt crime.

“The complex and cross-border nature of many financial crimes highlights the need for strong collaboration. AUSTRAC’s longstanding partnership with industry and law enforcement through the Fintel Alliance is key to the ongoing sharing of critical intelligence, ensuring early detection of emerging threats – and supporting timely disruption efforts.

“Our major bank partners provided intelligence support throughout the project, which was key to identifying and targeting the money launderers, and providing new leads for law enforcement partners,” Rose said.

“A significant outcome of the project was the major banks taking steps to limit funds deposited through ATMs, impacting the ability of serious and organised crime groups to launder criminal proceeds at ATMs.

“It’s an honour for AUSTRAC’s Fintel Alliance to be nominated for this award by the ANZ bank for this project. We recognise this is an outcome that would not have been achieved without the close collaboration of all partners.”