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Showing 91 - 100 of 153 results for "AUSTRAC"

Westpac gives investors an out

HARRISON WORLEY  |  THURSDAY, 28 NOV 2019
Westpac has opened the exit door for share purchase plan investors caught unaware by AUSTRAC's action against the bank. Following discussions with corporate regulator ASIC, Westpac has opted to provide a withdrawal option for applicants to its share ...

ASIC launches investigation into Westpac

ELIZABETH MCARTHUR  |  TUESDAY, 26 NOV 2019
... 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" non-compliance ...

Brian Hartzer steps down from Westpac

ELIZABETH MCARTHUR  |  TUESDAY, 26 NOV 2019
... bringing forward his retirement as chair to the first half of 2020. "The board accepts the gravity of the issues raised by AUSTRAC," Maxstead said. "As was appropriate, we sought feedback from all our stakeholders including shareholders and having done ...

Westpac halts short-term bonuses, culls Litepay

HARRISON WORLEY  |  MONDAY, 25 NOV 2019
... counter terrorism financing laws. Announcing the bank's three-point response plan to the statement of claim launched by AUSTRAC last week, Westpac chair Lindsay Maxsted yesterday said the bank was determined to fix its issues and lift standards. ...

Westpac faces 23 million breaches

ELIZA BAVIN  |  WEDNESDAY, 20 NOV 2019
Westpac is facing 23 million alleged breaches of anti-money laundering laws and counter terrorism laws. AUSTRAC has applied to the Federal Court seeking civil penalty orders against Westpac relating to "systematic" non-compliance with the Anti Money ...

FIIG makes first impact investing play

HARRISON WORLEY  |  MONDAY, 11 NOV 2019
Specialist fixed income house FIIG Securities partnered with the microfinance arm of World Vision to launch its first impact investing product in Australia. FIIG Securities and VisionFund International launched an impact bond to the Australian market ...

Afterpay slides in global fintech rankings

HARRISON WORLEY  |  TUESDAY, 5 NOV 2019
... an up and down year, Afterpay scraped into the top 50, dropping 21 places from its 2018 ranking to reach 47th. In June AUSTRAC went after the firm, ordering an audit of its compliance with the Anti-Money Laundering and Counter Terrorism Financing Act ...

Westpac takes $1 billion profit hit

ELIZA BAVIN  |  THURSDAY, 24 OCT 2019
... delivered a warning to shareholders over potential outcomes from the Australian Transaction Reports and Analysis Centre's (AUSTRAC) enquiry. AUSTRAC is investigating the banks failure to report a large number of International Funds Transfer Instructions ...

AUSTRAC orders audit of PayPal

ELIZA BAVIN  |  TUESDAY, 1 OCT 2019
AUSTRAC has ordered the appointment of an external auditor to look into PayPal Australia in relation to "ongoing concerns" about its compliance with financial crime laws. The financial intelligence agency said the concerns relate to PayPal Australia's ...

Major super funds caught in fraud scandal

ELIZA BAVIN, JAMIE WILLIAMSON  |  WEDNESDAY, 18 SEP 2019
... suspicious attempts to access member information and possible identity fraud. We also report suspicious transactions to AUSTRAC," the spokesperson said. Australian Administrative Services, owned by Link Group, serves as administrator for Club Plus, HESTA ...