Pursuant to the committee's functions set out in paragraph 7(1)(g) of the Parliamentary Joint Committee on Law Enforcement Act 2010, the committee will examine the effectiveness of current Commonwealth law enforcement legislation and administrative arrangements that target serious and organised financial related crime including money laundering and identity fraud.
The committee will examine:
- the character, prevalence and impact of financial related crime in Australia;
- the methods and practices used by the perpetrators of financial related crime (including the impact of new technologies);
- the involvement of organised crime;
- in relation to money laundering—the large number of high denomination banknotes in circulation;
- in relation to identity fraud—credit card fraud in particular
- the operation and effectiveness of Commonwealth legislation, administrative arrangements and law enforcement strategies;
- the role of the Australian Crime Commission and the Australian Federal Police in detecting financial related crime;
- the interaction of Commonwealth, state and territory legislation and law enforcement activity;
- the extent and effectiveness of relevant international agreements and arrangements; and
- the need for any legislative or administrative reform;
- any related matters.