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Showing 21 - 30 of 45 results for %22Anti-Money Laundering %26 Counter Terrorism Financing Act%22

AUSTRAC orders audit of PayPal

ELIZA BAVIN  |  TUESDAY, 1 OCT 2019
... community." PayPal Australia may be subject to fines or even possible criminal prosecution if found to be in breach of the Anti-Money Laundering and Counter -Terrorism Financing Act 2006. AUSTRAC said it will work closely with the company during the ...

AUSTRAC zeroes in on Afterpay

HARRISON WORLEY  |  MONDAY, 17 JUN 2019
Tech-darling Afterpay is feeling the regulatory heat after AUSTRAC ordered an audit of the fintech's compliance with Anti-Money Laundering and Counter-Terrorism Financing Act (AML/CTF) laws. AUSTRAC said an external auditor will examine Afterpay's governance ...

Cryptocurrency service providers now regulated: AUSTRAC

HARRISON WORLEY  |  THURSDAY, 12 APR 2018
... laws ensure these 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 ...

CBA and AUSTRAC agree to mediate

ALEX BURKE  |  FRIDAY, 23 MAR 2018
... evidence in the 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 ...

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 ...

IMF ramps up funding for CBA class action

EMMA RAPAPORT  |  FRIDAY, 22 DEC 2017
... purchased shares 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 ...

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

KARREN VERGARA  |  THURSDAY, 14 DEC 2017
CBA admitted systems glitches have led to it breaching anti-money laundering and 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 ...

Westpac faces class action over life insurance

KARREN VERGARA  |  MONDAY, 16 OCT 2017
... lead the class action. Last week, Maurice Blackburn led a class action against the Commonwealth Bank for allegedly breaching anti-money laundering and counter-terrorism financing laws. BT Financial Group said it will defend the legal action in relation ...

Proceedings filed against CBA in Federal Court

ALEX BURKE  |  MONDAY, 9 OCT 2017
... participate in the case. As previously reported in Financial Standard, the class action concerns CBA's alleged breaches of anti-money laundering and counter terrorism financing laws, which corresponded with a significant share price drop. In a statement ...

CBA class action moves forward

KARREN VERGARA  |  TUESDAY, 5 SEP 2017
... today announced it will formally fund an open class action against the Commonwealth Bank relating to alleged breaches of anti-money laundering and counter terrorism financing laws. The class action will consist of shareholders who purchased shares between ...