Australian Transaction Reports and Analysis Centre (AUSTRAC) has signed an agreement with the financial intelligence unit (FIU) of Guatemala to exchange financial information relating to money laundering and terrorism financing.
The memorandum of understanding between the two countries will allow for certain exchanges of financial intelligence and other forms of cooperation.
AUSTRAC is Australia’s anti-money laundering and counter-terrorism financing regulator and specialist financial intelligence unit. AUSTRAC works with law enforcement and other agencies to protect the integrity of the Australian financial system and fight serious crimes such as drug trafficking, tax evasion, fraud and people smuggling.
‘Guatemala is the most populous country in Central America and, like Australia, is working towards combating money laundering and terrorism financing, and other serious crimes such as drug and human trafficking.’ said AUSTRAC’s Chief Executive Officer, John Schmidt.
‘This agreement bolsters AUSTRAC’s capacity to support the global fight against these crimes and to protect the integrity of Australia’s financial system.’ he said.
Both AUSTRAC and Guatemala’s FIU (Intendencia de Verificacion Especial) are active members of the Egmont Group of Financial Intelligence Units, a global network of 116 FIUs which promotes international cooperation between its members.
AUSTRAC now has 57 agreements to exchange financial intelligence, and one to exchange regulatory information, with its foreign counterparts.
