Briefs: Austrac partners with UK agencies, Heartland chair steps down, Douugh launches money app 21 February 2023 5:05AM Banking Day staff Briefs, Austrac, AML/CTF, Fintech Austrac has signed a memorandum of understanding with the United Kingdom Financial Conduct Authority that will enable the two agencies to exchange information and ideas. It has also signed an MOU with His Majesty’s Revenue and Customs that will also enable an exchange of information and could lead to joint supervisory activities. “Criminal and national security threats transcend borders,” Austrac chief executive Nicole Rose said in a statement. Heartland Group chair Geoff Ricketts is stepping down due to ill health. Heartland announced that Ricketts will remain as a director. Deputy chair Greg Tomlinson will take over as chair. Douugh Ltd, a provider of personal financial management tools, has launched its money App in Australia. In its initial phase, the local product has an automated micro-investing facility but Douugh has plans to offer “banking and credit services to challenge traditional debit/credit and BNPL offerings in the market”. The company has already launched a similar product in the United States, where it has around 100,000 customers and more than US$30 million of cash deposits.