Charles Sturt University (CSU) and AUSTRAC launch a Financial Intelligence Analysts Course (FIAC) that will put Australia at the forefront of professional expertise in fighting serious financial crime and terrorism.
The course was developed by the Australian Transaction Reports and Analysis Centre (AUSTRAC), the government's financial intelligence and regulatory agency in close collaboration with CSU's Australian Graduate School of Policing and Security.
The AUSTRAC-run intensive course will be conducted in Brisbane, Canberra, Melbourne and Sydney from 2018. It will be open to both private sector and law enforcement partners, with the purpose of building skills, capability and tradecraft to understand, detect, prevent and disrupt financial crime.
CSU Associate Professor of Intelligence and Security Studies Patrick Walsh, said, "This is an important step in the specialised field of financial intelligence that will help further develop the skills of people working both within the private sector and government.
"The importance of FIAC is highlighted by the fact it will be taken by intelligence analysts from all Commonwealth law enforcement agencies that are dealing with terrorism financing and organised crime," Professor Walsh added.
The course 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. FIAC will build on participants' existing experience in generic intelligence principles and processes.
FIAC was also developed with input from law enforcement partners, industry, academia, and AUSTRAC's US counterpart the Financial Crimes Enforcement Network (FinCEN).
Earlier this year, AUSTRAC piloted a two-week course involving 16 participants from a variety of partner federal and state agencies. After a critical review, the topics were refined and a course schedule finalised for 2017-18, including a formal agreement with CSU.
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.
AUSTRAC plans to host the first international FIAC course with its close international partner financial intelligence unit, Indonesia's PPATK, in 2018.