AUSTRAC has published its Supervision, Intelligence and Enforcement strategy documents for 2011-12.

They focus on AUSTRAC’s roles as AML/CTF regulator and Australia’s financial intelligence unit.

Amongst other things ” In 2011–12, AUSTRAC plans to triple its supervisory efforts compared to 2010–11, by undertaking 7,000 supervision engagements with reporting entities. In keeping with past practice, AUSTRAC’s intensive supervision activity will include both assessment-based work and awareness building activities.

Assessments will be conducted on those reporting entities which demonstrate anomalous compliance behaviours. It is expected that this intensive assessment activity will apply to at least 1,000 reporting entities.”