AUSTRAC pioneers digital data-sharing channel with major banks to combat money laundering

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AUSTRAC pioneers digital data-sharing channel with major banks to combat money laundering

By Australian Transaction Reports and Analysis Centre

AUSTRAC has launched a secure digital channel to exchange financial intelligence with Australia's four major banks through its Collaborative Analytics Hub. The initiative transformed ATM and over-the-counter cash deposit data into interactive dashboards, revealing suspicious patterns previously undetectable through standard monitoring.

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