Abstract
Australian Transaction Reports and Analysis Centre (AUSTRAC) is a Federal Government Agency that has responsibility for detection and investigation of potential abuses of the financial system. Its powers are circumscribed by the Anti-Money Laundering and Counter-Terrorism Financing Act 2006. The carrying out of this important function has an impact on illicit transactions and the entities involved in them alike. There is also a corresponding impact on investor confidence in the management of companies that fall under such scrutiny. This paper presents a preliminary analysis and measurement of this impact using stock market data sourced through UNSW Sydney. It represents an important holistic view of the application of Australian law in the fields of deterrence, enforcement and return on investment for shareholders. More broadly, it raises further research questions about the potential effects of policy and legislation on the Australian economy.
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