Senate debates

Wednesday, 21 March 2007

Anti-Money Laundering and Counter-Terrorism Financing Amendment Bill 2007

In Committee

6:16 pm

Photo of David JohnstonDavid Johnston (WA, Liberal Party, Minister for Justice and Customs) Share this | Hansard source

The question is not one for this legislation; the question is one for the provisions of other legislation. We have a chain of resources. AUSTRAC gathers and monitors the information. It is used by all 30 agencies for intelligence purposes. Under the legislation now before the chamber, no information that is provided by AUSTRAC can freeze accounts. What the enforcement agencies do with the information is a matter for them. I am sure the senator knows of the powers and the abilities of the enforcement agencies—from the Australian Federal Police to the Australian Crime Commission et cetera.

This legislation simply says that the information obtained by AUSTRAC can be passed to ASIS. I have suggested to the senator the safeguards as to what happens with the information then. The Minister for Foreign Affairs must approve it and the director-general of the agency must be satisfied that it is reasonable. Your question is about the next step beyond this legislation. This is simply about the raising of intelligence and its dissemination.

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