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Showing 21 - 30 of 60 results for %22Counter Terrorism Act%22

Westpac forks out $80m for AUSTRAC scandal

ELIZA BAVIN  |  THURSDAY, 20 FEB 2020
... penalty order against Westpac relating to "systematic" non-compliance with the Anti-Money Laundering and Counter Terrorism Act on over 23 million occasions. The bank said in response it has established a board financial crime committee, implemented priority ...

Westpac facing new class action

ELIZA BAVIN  |  MONDAY, 3 FEB 2020
... AUSTRAC investigation. The bank is currently facing 23 million alleged breaches of anti-money laundering and counter terrorism laws with AUSTRAC applying to the Federal Court seeking civil penalty orders against Westpac.

Westpac served class action

JAMIE WILLIAMSON  |  WEDNESDAY, 18 DEC 2019
... Court of Australia for civil penalty orders against Westpac over systemic non-compliance with anti-money laundering and counter-terrorism laws totaling 23 million contraventions. A case management hearing was held earlier this month with another scheduled ...

APRA joins in on Westpac scrutiny

ELIZA BAVIN  |  TUESDAY, 17 DEC 2019
... launching its criminal charges against the bank over an alleged 23 million breaches of anti-money laundering and counter terrorism laws. APRA said it will also focus on the bank's actions to rectify and remediate the issues after they were identified. ...

ASIC launches investigation into Westpac

ELIZABETH MCARTHUR  |  TUESDAY, 26 NOV 2019
... penalty orders against Westpac relating to "systematic" non-compliance with the Anti Money Laundering and Counter Terrorism Act 2006 on over 23 million occasions. The bank said in a statement: "We are determined to urgently fix these issues and lift ...

Brian Hartzer steps down from Westpac

ELIZABETH MCARTHUR  |  TUESDAY, 26 NOV 2019
... penalty orders against Westpac relating to "systematic" non-compliance with the Anti Money Laundering and Counter Terrorism Act 2006 on over 23 million occasions.

Westpac halts short-term bonuses, culls Litepay

HARRISON WORLEY  |  MONDAY, 25 NOV 2019
... incentives for its executive team as it deals with the fallout from its alleged breaches of anti-money laundering and counter terrorism financing laws. Announcing the bank's three-point response plan to the statement of claim launched by AUSTRAC ...

Westpac faces 23 million breaches

ELIZA BAVIN  |  WEDNESDAY, 20 NOV 2019
... penalty orders against Westpac relating to "systematic" non-compliance with the Anti Money Laundering and Counter Terrorism Act 2006 on over 23 million occasions. AUSTRAC chief executive Nicole Rose said that AUSTRAC's decision to commence civil penalty ...

Afterpay slides in global fintech rankings

HARRISON WORLEY  |  TUESDAY, 5 NOV 2019
... In June AUSTRAC went after the firm, ordering an audit of its compliance with the Anti-Money Laundering and Counter Terrorism Financing Act (AML/CTF), with a final report due later this month. At the time Afterpay said it welcomed the opportunity to ...

AUSTRAC orders audit of PayPal

ELIZA BAVIN  |  TUESDAY, 1 OCT 2019
... 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 process.