The Australian Transaction Reports and Analysis Centre (AUSTRAC) has an important role in financial intelligence and anti-money laundering initiatives in Australia.
ANAO’s audit opinion has some interesting reflections on AUSTRAC’s financial intelligence function:
- Partner agency access to AUSTRAC data should be regularly reviewed by AUSTRAC personnel.
- Processing time targets and processing backlogs for financial intelligence assessment should be monitored by AUSTRAC management.
- Key Performance Indicators and structured feedback from partner agencies should be developed for financial intelligence.
These are a mix of high-level strategic planning; operational review; and partner corporate governance. The ANAO audit opinion is an interesting read on AUSTRAC’s organisational evolution — its financial intelligence methodologies remain confidential.
For some possible answers, we can look to the current literature in intelligence studies on structured analytic techniques and methodologies. The US-based Central Intelligence Agency released A Tradecraft Primer in 2009 (PDF). Ricahrd J. Heuer Jr and Randolph H. Pherson’s Structured Analytic Techniques for Intelligence Analysis (Washington DC: CQ Press College, 2010), and Sarah Miller Beebe and Randolph H. Pherson’s Cases in Intelligence Analysis: Structured Analytic Techniques in Action (Washington DC: CQ Press College, 2011) are also excellent tradecraft primers.