Palantir Awarded Australian Transaction Reports and Analysis Centre (AUSTRAC) Renewal to Support Financial Criminal Investigations

Rhea-AI Summary

Palantir Technologies Inc. (NYSE: PLTR) has renewed its partnership with the Australian Transaction Reports and Analysis Centre (AUSTRAC) to enhance its intelligence data analysis platform. This collaboration, ongoing since 2017, aims to support AUSTRAC's mission to protect Australia’s financial system from criminal abuse, including money laundering and terrorism financing. AUSTRAC will leverage Palantir’s Gotham and Foundry software to fuse large-scale data, aiding in national security threat identification and criminal network disruption. Mike Kelly, Head of Palantir Australia, emphasized the importance of this partnership for enhancing Australia’s safety.

Positive

• Renewed partnership with AUSTRAC enhances business credibility.
• Ongoing support for AUSTRAC's mission aligns with public sector growth opportunities.
• Utilization of advanced software platforms (Gotham and Foundry) drives operational effectiveness.

Negative

• None.

DENVER--(BUSINESS WIRE)-- Palantir Technologies Inc. (NYSE: PLTR) today announced that the Australian Transaction Reports and Analysis Centre (AUSTRAC) renewed its partnership for the ongoing delivery of an intelligence data analysis platform to support the AUSTRAC mission of protecting Australia’s financial system from criminal abuse.

Since 2017, Palantir has partnered with AUSTRAC to optimise their use of financial data in support of criminal investigations. AUSTRAC builds resilience in the financial system and uses financial intelligence and regulation to disrupt money laundering, terrorism financing, and other serious crime.

AUSTRAC utilizes Palantir Technologies’ Gotham and Foundry software platforms to integrate and fuse large scale data across their enterprise, driving decisions and operational outcomes.

“We are proud to continue and expand our partnership with AUSTRAC and remain firmly committed to supporting their mission,” said Mike Kelly, Head of Palantir Australia. “AUSTRAC personnel are using Palantir’s software to identify national security threats and to detect and disrupt criminal networks - a real contribution to making Australia safer.”

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Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may relate to, but are not limited to, Palantir’s expectations regarding the amount and the terms of the contract and the expected benefits of our software platforms. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Forward-looking statements are based on information available at the time those statements are made and were based on current expectations as well as the beliefs and assumptions of management as of that time with respect to future events. These statements are subject to risks and uncertainties, many of which involve factors or circumstances that are beyond our control. These risks and uncertainties include our ability to meet the unique needs of our customer; the failure of our platforms to satisfy our customer or perform as desired; the frequency or severity of any software and implementation errors; our platforms’ reliability; and our customer’s ability to modify or terminate the contract. Additional information regarding these and other risks and uncertainties is included in the filings we make with the Securities and Exchange Commission from time to time. Except as required by law, we do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230323005684/en/

Lisa Gordon

media@palantir.com

Source: Palantir Technologies Inc.

FAQ

What is the latest partnership news regarding Palantir Technologies (PLTR) and AUSTRAC?

Palantir Technologies has renewed its partnership with AUSTRAC to continue providing an intelligence data analysis platform.

How long has Palantir been partnering with AUSTRAC?

Palantir has been partnering with AUSTRAC since 2017.

What software does AUSTRAC use from Palantir Technologies (PLTR)?

AUSTRAC uses Palantir's Gotham and Foundry software platforms.

What is AUSTRAC's mission in relation to Palantir Technologies (PLTR)?

AUSTRAC aims to protect Australia’s financial system from criminal abuse, including money laundering and terrorism financing.