A Productivity Commission draft report on data sharing, released overnight, recommends that Australia should maintain its voluntary approach to the introduction of comprehensive credit reporting. The shift to CCR has been slower than anticipated and critics of the big banks have called for participation to be made compulsory. The Productivity Commission says data input should be voluntary "unless it become clear that a critical mass of accounts is not achievable on that basis." The wide ranging report calls for greater control for individuals over the data that is collected from them. Austrac has signed a memorandum of understanding with its Chinese counterpart, the China Anti-Money Laundering Monitoring and Analysis Centre. The MOU will give the two parties access to each other's financial intelligence data. Austrac said in a statement that collaboration, involving the exchange of financial transaction reports where there is a connection between the two countries, would begin immediately. The flow of money between the two countries has grown from A$42 billion 2011/12 to $77 billion last financial year. Finance company zipMoney has beefed up its management ranks with the appointment of John Gowland as head of enterprise sales. Gowland was most recently Latitude Financial Services' business development lead. The company reported revenue of A$2.9 million on transaction volume of $33 million during the September quarter. Revenue was up six per cent on the June quarter. Receivables of $60 million were up 47 per cent on the previous quarter.