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Showing 91 - 100 of 131 results for "AUSTRAC"

CBA and AUSTRAC agree to mediate

ALEX BURKE  |  FRIDAY, 23 MAR 2018
At the request of both parties, the Federal Court has referred the proceedings between CBA and AUSTRAC to mediation. The Court's decision also requires AUSTRAC to file and serve any reply to CBA's amended response by April 6 and set a timetable for ...

CBA denies majority of latest AUSTRAC allegations

KARREN VERGARA  |  FRIDAY, 23 FEB 2018
... it denies most of the additional 100 anti-money laundering and counter-terrorism financing allegations handed down from AUSTRAC last December. In its submission to the Federal Court, CBA said it "denies 89 allegations in full and admits 11 allegations ...

CBA puts away $500m for regulatory costs

DARREN SNYDER  |  WEDNESDAY, 7 FEB 2018
... profit. The banking group said it has set aside $375 million for an estimated civil penalty in relation to the ongoing AUSTRAC proceedings in the Federal Court. During the six month period it also set aside $200 million for "expected costs relating to ...

SMSFs and instos driving crypto exchange growth

JAMIE WILLIAMSON  |  WEDNESDAY, 7 FEB 2018
... investors that have been waiting on the sidelines are now choosing to enter the market. "Factors like the new regulation by AUSTRAC, emerging ETFs and crypto hedge funds, new bitcoin futures, and the growing mainstream acceptance of bitcoin as an asset ...

IMF ramps up funding for CBA class action

EMMA RAPAPORT  |  FRIDAY, 22 DEC 2017
... laundering and counter-terrorism financing levelled by the regulator. In an amended statement of claim released yesterday, AUSTRAC filed a further 100 alleged breaches of anti-money laundering and counter-terrorism financing legislation (AML/CTF), increasing ...

CBA hit with fresh AML breaches by AUSTRAC

EMMA RAPAPORT  |  FRIDAY, 15 DEC 2017
... laundering and counter-terrorism financing levelled by the regulator. In amended statement of claim released yesterday, AUSTRAC filed a further 100 alleged breaches of anti-money laundering and counter-terrorism financing legislation (AML/CTF), increasing ...

CBA admits to anti-money laundering breaches, AUSTRAC flags new allegations

KARREN VERGARA  |  THURSDAY, 14 DEC 2017
... counter-terrorism laws on more than 53,000 occasions, and flagged it is bracing itself for new allegations to be handed down by AUSTRAC. In filings submitted in response to civil proceedings commenced by AUSTRAC, the bank said its Intelligent Deposit ...

Government caves to banking Royal Commission

KARREN VERGARA  |  THURSDAY, 30 NOV 2017
... the bank levy, the BEAR regime of senior executive oversight, the commissioned ACCC review of competition, the ASIC and AUSTRAC cases, and so on, Citi said.

CBA avoids board spill

KARREN VERGARA  |  FRIDAY, 17 NOV 2017
... after the majority of shareholders voted in favour of the remuneration report that was overhauled hot on the heels of AUSTRAC alleging the bank breached anti-money laundering laws. About 92% of shareholders approved the remuneration report at the bank's ...

Australia lax in fighting financial crime

KARREN VERGARA  |  WEDNESDAY, 25 OCT 2017
... Australia has traditionally been "fairly passive" particularly in the anti-money laundering regulatory space. In light of AUSTRAC's anti-money laundering allegations against CBA, this could change, Waldren said, adding there has been a cultural shift ...