Australian Transaction Reports and Analysis Centre (AUSTRAC) is an Australian government agency, established in 1989 under the Financial Transaction Reports Act 1988 and continued in existence under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act). Certain classes of designated services must be reported to AUSTRAC, in particular bank cash transactions (i.e. notes and coins) of $10,000 or more. AUSTRAC passes information on to other government agencies to help them act against tax evasion, organised crime, money laundering, and welfare fraud.
Read more about Australian Transaction Reports And Analysis Centre: Operation, Identification, Other Agencies, Enforcement
Famous quotes containing the words australian, reports, analysis and/or centre:
“The Australian mind, I can state with authority, is easily boggled.”
—Charles Osborne (b. 1927)
“He who is only a traveler learns things at second-hand and by the halves, and is poor authority. We are most interested when science reports what those men already know practically or instinctively, for that alone is a true humanity, or account of human experience.”
—Henry David Thoreau (1817–1862)
“Analysis as an instrument of enlightenment and civilization is good, in so far as it shatters absurd convictions, acts as a solvent upon natural prejudices, and undermines authority; good, in other words, in that it sets free, refines, humanizes, makes slaves ripe for freedom. But it is bad, very bad, in so far as it stands in the way of action, cannot shape the vital forces, maims life at its roots. Analysis can be a very unappetizing affair, as much so as death.”
—Thomas Mann (1875–1955)
“In the centre of his cage
The pacing animal
Surveys the jungle cove
And slicks his slithering wiles
To turn the venereal awl
In the livid wound of love.”
—Allen Tate (1899–1979)