International Cooperation To Combat Money Laundering: The Australian Perspective (From Money Laundering in the 21st Century: Risks and Countermeasures: Seminar Held in Canberra, Australia, February 7, 1996, P 44-49, 1996, Adam Graycar and Peter Grabosky, eds. - See NCJ-169192)

• NCJ Number: 169198
• Author(s): M Jennings
• Date Published: 1996
• Length: 6 pages
• Sale Source: Australian Institute of Criminology
• Publication Type: Report (Technical Assistance)
• Language: English
• Country: Australia

Annotation

International cooperation to address money laundering is discussed from the perspective of Australia's involvement and its benefits.

Abstract

Cooperation has expanded and now takes place on global, regional, and bilateral levels. Australia has sought to have an active role in promoting cooperation. Since its inception in 1989 the Financial Action Task Force (FATF) has been the main focus of Australia's international strategy against money laundering. Australia was actively involved in drafting FATF's 40 recommendations, which represent a comprehensive package of actions against money laundering. Australia has implemented the recommendations and thereby created a setting hostile to the money laundering activities of organized crime. Other forums in which Australia is involved include the United Nations and the Commonwealth. Australia will continue to focus closely on developments in the Asia/Pacific region. In the future Australia will need to look for new opportunities to encourage cooperation by establishing a flexible and proactive approach to promoting the message against money laundering in existing and future international forums.