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Showing 41 - 50 of 138 results for "Terrorism"

Westpac hit with another class action

ELIZA BAVIN  |  FRIDAY, 13 MAR 2020
... response plan to the AUSTRAC scandal. The bank is facing 23 million alleged breaches of anti-money laundering and counter-terrorism laws brought on by AUSTRAC. The regulator alleges, amongst other things, Westpac failed to appropriately assess the online ...

Westpac forks out $80m for AUSTRAC scandal

ELIZA BAVIN  |  THURSDAY, 20 FEB 2020
... civil penalty order against Westpac relating to "systematic" non-compliance with the Anti-Money Laundering and Counter Terrorism Act on over 23 million occasions. The bank said in response it has established a board financial crime committee, implemented ...

Westpac facing new class action

ELIZA BAVIN  |  MONDAY, 3 FEB 2020
... report over 19.5 million international funds transfer instructions to AUSTRAC, Australia's anti money-laundering and terrorism financing regulator," Rosen Law alleges. "The company did not appropriately monitor and assess the ongoing money laundering ...

Westpac appoints new chair

ELIZA BAVIN  |  THURSDAY, 23 JAN 2020
... AUSTRAC launched legal proceedings against the bank, alleged 23 million breaches of the anti-money laundering and anti-terrorism laws. The scandal led to the former chief executive Brian Hartzer stepping down and Peter King appointed as acting chief ...

Westpac served class action

JAMIE WILLIAMSON  |  WEDNESDAY, 18 DEC 2019
... Australia for civil penalty orders against Westpac over systemic non-compliance with anti-money laundering and counter-terrorism laws totaling 23 million contraventions. A case management hearing was held earlier this month with another scheduled for ...

APRA joins in on Westpac scrutiny

ELIZA BAVIN  |  TUESDAY, 17 DEC 2019
... launching its criminal charges against the bank over an alleged 23 million breaches of anti-money laundering and counter terrorism laws. APRA said it will also focus on the bank's actions to rectify and remediate the issues after they were identified. ...

Westpac gives investors an out

HARRISON WORLEY  |  THURSDAY, 28 NOV 2019
... enforcement and the broader industry to detect, prevent and disrupt serious financial crimes. This includes money laundering, terrorism, human trafficking, tax evasion and child exploitation," Corbally said. The ANZ risk boss said recent issues identified ...

ASIC launches investigation into Westpac

ELIZABETH MCARTHUR  |  TUESDAY, 26 NOV 2019
... first half of next year too. The bank has been accused of 23 million breaches of anti-money laundering laws and counter terrorism laws. AUSTRAC last week applied to the Federal Court seeking civil penalty orders against Westpac relating to "systematic" ...

Brian Hartzer steps down from Westpac

ELIZABETH MCARTHUR  |  TUESDAY, 26 NOV 2019
... Statement of Claim. The claim means the bank is facing 23 million alleged breaches of anti-money laundering laws and counter terrorism laws. AUSTRAC last week applied to the Federal Court seeking civil penalty orders against Westpac relating to "systematic" ...

Westpac halts short-term bonuses, culls Litepay

HARRISON WORLEY  |  MONDAY, 25 NOV 2019
... incentives for its executive team as it deals with the fallout from its alleged breaches of anti-money laundering and counter terrorism financing laws. Announcing the bank's three-point response plan to the statement of claim launched by AUSTRAC ...