19 Oct 2016
Over the past few years there has been a significant rise in the reporting of suspicious matters and suspect transactions in reference to financial crime in Australia, according to the latest research.
The Australian Transaction Reports and Analysis Centre (AUSTRAC), Australia’s anti-money laundering and counter-terrorism financing regulator, revealed that in 2015/16 there were 78,846 suspicious matter reports (SMRs) and suspect transaction reports (SUSTRs) in reference to financial crime.
While this figure is slightly down on the previous year, reporting levels are almost double what they were in 2012/13.
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