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

I am obliged to Senator Ludwig for revisiting that. I have an answer. FATF, as I am sure the senator is aware, is a body established to set global standards. It does not have any investigative functions apart from monitoring the member nations to ensure compliance with the standards as set out. AUSTRAC is a financial intelligence regulator. Its function is to share information, but FATF is not a beneficiary of that function.