How we ensure data quality for our regulatory and intelligence operations

On December 12, 2024, the Australian Transaction Reports and Analysis Centre (AUSTRAC) issued an update regarding "How we ensure data quality for our regulatory and intelligence operations". AUSTRAC emphasizes that data quality is crucial for its analytics capabilities, enabling the identification of anti-money laundering and counter-terrorism financing trends and patterns. By working together to enhance reporting entity data, accuracy in financial transaction reports, and analysing suspicious matter reports, AUSTRAC can provide actionable intelligence and support compliance efforts.