Welcome Speech at the Opening Ceremony 12th Annual Meeting of the Asia Pacific Group on Money Laundering
Brisbane Convention and Exhibition Centre, Qld
7 July 2009
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First, in this, NAIDOC week, may I acknowledge the traditional owners of the land we meet on – and pay my respects to their elders, both past and present.
Good morning, distinguished guests, ladies and gentlemen.
On behalf of the Australian Government, I am pleased to attend today’s opening of the twelfth annual meeting of the Asia Pacific Group on Money Laundering.
It is a great pleasure to welcome our many overseas delegates to Australia and to the beautiful city of Brisbane.
The next few days will be busy as you examine developments since the last annual meeting in Indonesia. Much has been achieved in the ongoing fight against money laundering and the financing of terrorist organisations, at the regional level and globally.
In particular I would also like to acknowledge the successes of other members within the Asia Pacific Group on Money Laundering.
For example, the Solomon Islands who in the last twelve months have secured both a conviction for money laundering and in a separate case, had assets restrained for the first time.
In Australia we are in the fortunate position to be able to invest significant resources in the fight against money laundering and counter-terrorism financing. And we have implemented a strong anti-money laundering regime to break the circuit between money laundering and a wide range of illegal and criminal activities.
Last week, the Australian Transaction Reports and Analysis Centre, known has AUSTRAC, announced that it had accepted enforceable undertakings from two financial institutions. These are the first such undertakings accepted by the AUSTRAC CEO.
Enforceable undertakings are of critical importance in ensuring compliance with our anti-money laundering regime, without the need for criminal or civil enforcement action.
The Australian Government is also refocussing its efforts against organised crime at the international and national level and working closely with state and territory governments in finding ways to dismantle serious criminal threats.
The Attorney-General has recently introduced legislation as part of this national response to serious and organised crime by strengthening the criminal asset confiscation regime. This will include unexplained wealth provisions that require individuals to demonstrate their wealth was legally acquired.
Profit is the primary motivation behind most forms of criminal activity. Insidious crimes such as trafficking in people, child pornography and drugs. Crimes that threaten our food security and our environment such as illegal fishing and illegal logging. These are perpetuated because criminals cannot be deterred by gaol sentences alone. Attacking the proceeds of crime is a fundamental pillar of modern law enforcement strategies.
Of even greater concern is the funding of terrorist organisations. Australia’s Prime Minister, in the first National Security Statement, highlighted the integrated nature of national security and organised crime. Terrorist groups are commonly funded through the drug trade and fraud. But funding can also come from legitimate sources such as charitable organisations and business profits. This is why today we are releasing a publication aimed at non-profit organisations to assist them safeguard their organisation against terrorism financing. This guide will help to protect the non-profit sector in Australia from being misused to fund terrorist activity. A concern I’m sure is shared by all delegations here today.
Crime and the laundering of its profits have become increasingly transnational in scope over the last decade. These crimes pose serious risks to international financial systems and threaten the security of our countries and region.
Combating transnational crime that knows no borders requires us to work more closely together than ever before, both regionally and globally.The Australian Government has also been proactive in working with its partners in Asia and the Pacific. The Attorney-General's Department Anti-Money Laundering Assistance Team or AMLAT has provided both regional and in-country training and mentoring across the Pacific. Currently under an AMLAT program a prosecutor from Samoa is working with the Commonwealth Director of Public Prosecutions and gaining invaluable practical experience in asset restraint and forfeiture. Australia also hosts the Asia Pacific Group on Money Laundering Secretariat and is a member of the Financial Action Task Force. Through these organisations we are strongly engaged in international and regional efforts.
The Asia Pacific Group on Money Laundering plays a vital role in the fight against money laundering and terrorism financing. It brings together experts within the financial, legal and law enforcement sectors to identify and address vulnerabilities faced in the region.
A core function of the Asia Pacific Group on Money Laundering is technical assistance and training support within the region. Australia remains committed to supporting this endeavour.
AUSTRAC continues to work closely with our regional neighbours to build the capacity to detect terrorism financing and money laundering. I know that some of you here today have been involved in AUSTRAC’s South East Asian Counter Terrorism Program.
I am told that the recent workshop on wire transfers, held in Bangkok in April 2009 and attended by a number of South East Asian jurisdictions present today, was another valuable activity under this program. This workshop focussed on how wire transfers are used in money laundering and terrorism financing and what strategies countries can develop to address this issue.
The Asia Pacific Group on Money Laundering provides an important forum for us to develop strong networks to enhance future cooperation between member jurisdictions in the region.
This meeting provides an excellent opportunity to review our collaboration to date and plan and develop strategies at a regional level.
I am pleased to see a strong representation from China this year. This is a significant development for all members.
Further, I understand that the Asia Pacific Group on Money Laundering will formally accept Papua New Guinea as a member at this meeting which will bring the total membership to forty. This is very encouraging and symbolic of the success of the forum.
I commend all of you gathered here on our collective achievements to date.
A busy week awaits, so, without further delay, I am delighted to formally open the twelfth annual meeting of the Asia Pacific Group on Money Laundering.
