AUSTRAC De-banking (2022)

AUSTRAC is a federal government agency tasked with fighting financial crimes, including money laundering. AUSTRAC regulates and monitors financial institutions to ensure compliance with money laundering laws. It can and has issued hefty fines of over $1 billion to banks. Our submission commenting on Draft Guidance: Providing financial services to customers that financial institutions assess to be higher risk, argues AUSTRAC should include clear references to anti-discrimination laws to remind financial institutions of these legal obligations in additional to money laundering laws. This is aimed to help reduce the frequency with which financial institutions de-bank, or exclude, sex workers from all financial services.

SWLRV Submission

Submission by Professor Louis de Koker, La Trobe Law School

Eros Submission

Australian Small Business and Family Enterprise Ombudsman submission

AUSTRAC Background on Consultation

AUSTRAC’s Draft Guidance