Senate debates

Thursday, 22 March 2007

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

In Committee

11:28 am

Photo of Joe LudwigJoe Ludwig (Queensland, Australian Labor Party, Manager of Opposition Business in the Senate) Share this | Hansard source

I am not asking about operational matters. You went there first by limiting the role of AUSTRAC to an area. I am simply giving you an example of where information may or may not be used. You confirmed in your earlier speech that it could not be used and that I was somehow wrong. It seems to be that, when you look at predicate offences and all of that information on which AUSTRAC can provide financial intelligence, you can ensure that financial intelligence is used appropriately in a range of investigations domestically. I am simply trying to establish why you do not use it internationally and you limit it in such a way that you rule out FATF, the OECD, Interpol, the United Nations and other bodies with appropriate safeguards. I do not know the reason. You have not been able to enlighten me as to why you will not. I am waiting for an explanation of that. If you are going to provide it, provide it now. If you do not know, say so—‘I don’t know.’ If you do have an answer, I would be keen to understand it.

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