Australian Institute of Criminology

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International conference to tackle money laundering and terrorism financing

Media Release

01 April 2009

A major international conference dedicated to the fight against money laundering and terrorism financing begins in Sydney today.

The Anti-Money Laundering and Counter-Terrorism Financing Conference 2009 is co-hosted by the Australian Transaction Reports and Analysis Centre (AUSTRAC), the Attorney-General's Department, the Australian Bankers' Association and the Australian Institute of Criminology.

Attorney General Robert McClelland will open the conference with a speech outlining Australia's efforts to combat money laundering and terrorism financing.

It is estimated that up to $4.5 billion is laundered by criminals in and through Australia each year, money which criminals can use to buy assets and finance further criminal activity.

An effective response requires close cooperation between government and the private sector and the conference will bring together representatives from the banking and finance sectors, government, regulatory and law enforcement agencies, industry bodies and academia to share their views and experience with Australian and international experts.

The two-day conference at the Hilton Hotel will examine global trends in money laundering, Australia's regulatory regime, anti-money laundering offences and proceeds of crime legislation, as well as the anticipated impacts of the global financial crisis.

Speakers at the conference will include Antonio Gustavo Rodrigues, President of the Financial Action Task Force (FATF) and head of Brazil's Financial Intelligence Unit; Mike Smith, UN Executive Director for Counter-Terrorism; William F. Baity, Deputy Director of the US Financial Crimes Enforcement Network; and Neil Jensen, AUSTRACCEO and Chair of the Egmont Committee.

AIC media contact: Scott Kelleher, Tel: 02.6260 9244; m: 0418 159525.