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Showing 131 - 140 of 203 results for "Money laundering"

Financial crime taskforce puts two behind bars

KARREN VERGARA  |  MONDAY, 13 AUG 2018
... March 2021. In 2006, the Australian Taxation Office and Australian Federal Police began investigating large-scale money laundering and tax evasion schemes based in Vanuatu. In turn, it led them to the activities of Agius and Castagna, who are cousins. ...

CBA settles with AUSTRAC for $700m

JAMIE WILLIAMSON  |  MONDAY, 4 JUN 2018
... Commonwealth Bank will pay $700 million to resolve civil proceedings brought against it by AUSTRAC for contravening anti-money laundering and counter-terrorism laws - almost double what it anticipated. CBA has announced it reached an agreement with AUSTRAC ...

Cryptocurrency service providers now regulated: AUSTRAC

HARRISON WORLEY  |  THURSDAY, 12 APR 2018
... exchanges now face the same regulatory requirements of other regulated financial institutions under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, requiring financial institutions to monitor transactional activity and report suspicious ...

CBA and AUSTRAC agree to mediate

ALEX BURKE  |  FRIDAY, 23 MAR 2018
... event mediation is unsuccessful. In December last year, CBA admitted to systems glitches leading to breaches anti-money laundering and counter-terrorism laws on more than 53,000 occasions. In filings submitted in response to the proceedings commenced ...

FinTech Australia appoints interim chief executive

DARREN SNYDER  |  MONDAY, 12 MAR 2018
... goods and services tax for digital currencies, and bringing digital currency exchanges under Australia's anti-money laundering regime; Reducing the barriers to entry for the establishment of new digital challenger banks; Establishing the consumer data ...

CBA denies majority of latest AUSTRAC allegations

KARREN VERGARA  |  FRIDAY, 23 FEB 2018
CBA said 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 ...

SEC cracks down on fee transparency

KARREN VERGARA  |  FRIDAY, 9 FEB 2018
... assessment, access rights and controls, data loss prevention, vendor management, training and incident response. Anti-money laundering (AML) programs are currently underway, to ensure firms are appropriately adapting their AML programs to meet regulatory ...

Financial services pay top dollar for compliance, IT skills

KARREN VERGARA  |  FRIDAY, 2 FEB 2018
... are increasingly outsourced to cheaper labour markets overseas. Moreover, professionals with experience in anti-money laundering, financial crime prevention, risk management and remediation will be highly regarded in 2018 to meet regulatory and customer ...

IMF ramps up funding for CBA class action

EMMA RAPAPORT  |  FRIDAY, 22 DEC 2017
... between then and 1pm on 3 August 2017 are eligible to participate in the case. Related story: CBA admits to anti-money laundering breaches In a public statement, Maurice Blackburn said the fact proceedings have been filed represents a "clear signal that ...

CBA hit with fresh AML breaches by AUSTRAC

EMMA RAPAPORT  |  FRIDAY, 15 DEC 2017
The hits keep coming for CBA with fresh allegations of money 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 ...