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Showing 131 - 140 of 156 results for "AUSTRAC"

CBA class action moves forward

KARREN VERGARA  |  TUESDAY, 5 SEP 2017
... business, CBA said. The bank also confirmed yesterday it will file its defence to the civil penalty proceedings initiated by AUSTRAC by December 15. AUSTRAC will file its response by 16 March 2018. CBA said its board of directors will continue to oversee ...

Treasurer backs APRA's CBA probe

KARREN VERGARA  |  THURSDAY, 31 AUG 2017
... with APRA's decision to conduct an independent inquiry into CBA's governance and accountability frameworks, following AUSTRAC initiating legal proceedings for anti-money laundering allegations. In terms of appropriate action, he warned that "all options ...

APRA launches inquiry into CBA

EMMA RAPAPORT  |  MONDAY, 28 AUG 2017
... national head of class actions Andrew Watson alleged CBA shareholders suffered a significant share price drop in light of AUSTRAC's legal proceedings against the bank. "The AUSTRAC allegations are extensive and it is astounding that the market would ...

CBA faces shareholder class action

ALEX BURKE  |  WEDNESDAY, 23 AUG 2017
... and 3 August 2017. Maurice Blackburn noted that shareholders had suffered a "significant share price drop" in light of AUSTRAC's legal proceedings against the bank. Maurice Blackburn national head of class actions Andrew Watson explained: "AUSTRAC alleges ...

CBA chief executive will stand down

EMMA RAPAPORT  |  MONDAY, 14 AUG 2017
... search process. Responding to media this morning, Livingstone resisted suggestions the decision was linked to the recent AUSTRAC scandal, focusing rather on what she described as the normal course of succession for a chief executive who has been in the ...

CBA contemplates CommInsure sale

ALEX BURKE  |  WEDNESDAY, 9 AUG 2017
... remain competitive." Despite the positive outlook, the results presentation was marred somewhat by the recent news that AUSTRAC has initiated Federal Court proceedings against the bank, alleging that CBA contravened the Anti-Money Laundering and Counter-Terrorism ...

CBA senior executives forego bonuses

EMMA RAPAPORT  |  TUESDAY, 8 AUG 2017
... regard to the civil penalty proceedings initiated last week by the Australian Transaction Reports and Analysis Centre (AUSTRAC). "In advance of the presentation of CBA's financial results tomorrow, the board advises that it has decided to reduce to zero ...

CBA blames reporting failure on software error

EMMA RAPAPORT  |  MONDAY, 7 AUG 2017
The Commonwealth Bank says its failure to notify AUSTRAC of more than 53,000 large cash deposits in its intelligent deposit machines was caused by a software error which was not discovered for more than two years. In a public statement CBA outlined ...

CBA faces anti-money laundering allegations

EMMA RAPAPORT  |  FRIDAY, 4 AUG 2017
... allegations it did not comply with anti-money laundering and counter-terrorism law. Financial intelligence and regulatory agency AUSTRAC has initiated Federal Court proceedings against the bank, alleging that CBA contravened the Anti-Money Laundering ...

AUSTRAC launches tool to help advisers fight terrorism

ALEX BURKE  |  TUESDAY, 2 MAY 2017
Financial intelligence agency AUSTRAC is releasing a guide to help financial advisers combat serious financial crimes, including financing for terrorism. The guide follows on from the report AUSTRAC released in December last year which determined there ...