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Showing 131 - 140 of 187 results for %22Money laundering%22

Treasurer backs APRA's CBA probe

KARREN VERGARA  |  THURSDAY, 31 AUG 2017
... 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 are on the table." It's important to underscore these ...

Labor, FSU call for Royal Commission

KARREN VERGARA  |  TUESDAY, 29 AUG 2017
... financial services sector, she said in a statement. But not even the serious allegations of breaches of anti-money laundering and anti-terrorism funding laws by Australia's largest bank are enough to convince the Prime Minister Malcolm Turnbull to establish ...

APRA launches inquiry into CBA

EMMA RAPAPORT  |  MONDAY, 28 AUG 2017
... 2017." CBA is also fighting a Federal Court action launched by AUSTRAC which accuses the bank of breaking anti-money laundering regulations on nearly 54,000 occasions. In addition, ASIC is investigating CBA to determine whether its directors met continuous ...

CBA contemplates CommInsure sale

ALEX BURKE  |  WEDNESDAY, 9 AUG 2017
... that AUSTRAC has initiated Federal Court proceedings against the bank, alleging that CBA contravened the Anti-Money Laundering and Counter-Terrorism Financing Act 2006. CBA acknowledged these proceedings in its results, with chair Catherine Livingstone ...

CBA blames reporting failure on software error

EMMA RAPAPORT  |  MONDAY, 7 AUG 2017
... a "significant impact", and that they are working to be more vigilant in the area of financial crime and anti-money laundering. "The rapid evolution of technology in banking, the increased sophistication of criminal activity, and higher regulatory expectations ...

CBA faces anti-money laundering allegations

EMMA RAPAPORT  |  FRIDAY, 4 AUG 2017
... is potentially facing millions of dollars in civil penalties following 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 ...

ASIC boosts support for regtech

KARREN VERGARA  |  WEDNESDAY, 31 MAY 2017
... of red tape and pace of change (62%). Anthony Quinn, co-founder of AML Accelerate - a regtech combatting anti-money laundering and counter-terrorism financing - said the move by ASIC and other bodies shows regulators are a lot more open to how technology ...

AUSTRAC launches tool to help advisers fight terrorism

ALEX BURKE  |  TUESDAY, 2 MAY 2017
... follows on from the report AUSTRAC released in December last year which determined there is a medium risk for money laundering and terrorism financing in the Australian financial planning industry. In order to combat this, AUSTRAC's new guide highlights ...

Medium risk for terrorism funding in financial advice

ALEX BURKE  |  THURSDAY, 22 DEC 2016
A Federal Government agency says there is a medium level of risk for money laundering and terrorism financing in the Australian financial planning industry. The Australian Transaction Reports and Analysis Centre (AUSTRAC), the government's financial ...

ASIC employee faces court

KERRIE SYDEE  |  FRIDAY, 11 NOV 2016
... subsection 478.1(1) of the Criminal Code Act 1995 and making a false document contrary to section 138(1) of the Anti-Money Laundering and Counter Terrorism Financing Act 2006. Daher's offences are punishable by up to two years and 10 years imprisonment ...