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Showing 31 - 40 of 177 results for "Money laundering"

AUSTRAC investigates NAB, JBWere

KARREN VERGARA  |  MONDAY, 7 JUN 2021
National Australia Bank and its subsidiaries, including JBWere, are allegedly failing their anti-money laundering and counter-terrorism financing obligations, according to AUSTRAC. The financial intelligence agency is investigating NAB's "potential ...

Westpac senior leader departs

ELIZABETH MCARTHUR  |  TUESDAY, 1 JUN 2021
... turbulence for the big bank after it received a record fine from AUSTRAC last year for failing to comply with anti-money laundering and counter-terrorism provisions. The bank announced it would merge its consumer and business division s and combine leadership ...

Former Westpac chief executive in new role

KANIKA SOOD  |  TUESDAY, 11 MAY 2021
... announced in November 2019, after AUSTRAC alleged Westpac was involved in "systematic" non-compliance with the Anti Money Laundering and Counter Terrorism Act 2006 on over 23 million occasions. Westpac eventually paid a $1.3 billion penalty, representing ...

Brian Hartzer to release leadership book

ELIZABETH MCARTHUR  |  TUESDAY, 23 MAR 2021
... Hartzer resigned from Westpac after an AUSTRAC investigation found that the bank had failed to comply with anti-money laundering and counter-terrorism laws. "Because of the circumstances of my departure from Westpac - which I touch on briefly at the ...

Chester eyes ASIC chair role

KARREN VERGARA  |  FRIDAY, 19 MAR 2021
... effectiveness of ASIC, AUSTRAC and other government agencies such as the Australian Border Force in combating anti-money laundering (AML) activities given so many incidents slip through the cracks. She pointed to the $500 million cocaine drug cartel ...

APRA closes Westpac probe

ELIZA BAVIN  |  FRIDAY, 12 MAR 2021
... launched the investigation into Westpac last year following allegations by AUSTRAC that Westpac had breached anti-money laundering and counter-terrorism laws. APRA's investigation examined the bank's actions to rectify and remediate the issues after ...

Westpac exec goes part-time

ANNABELLE DICKSON  |  TUESDAY, 9 MAR 2021
... recently besides the AUSTRAC matter where Westpac paid a civil penalty of $1.3 billion relating to breaches of anti-money laundering and counter terrorism laws. The bank also had its appeal dismissed by the High Court of Australia regarding two of its ...

Westpac best for ESG reporting in Australia: Report

ELIZABETH MCARTHUR  |  FRIDAY, 5 MAR 2021
... be surprising given Westpac was fined $1.3 billion after an AUSTRAC investigation found it had breached anti-money laundering and counter-terrorism financing laws. Westpac was one of only two companies from outside of Europe to rank in the top 10 for ...

Channel Capital expands overseas

KANIKA SOOD  |  WEDNESDAY, 24 FEB 2021
... offshore financial centres. It will also ensure ongoing compliance with regulatory obligations including anti-money laundering and tax transparency, the firm said. Cook, who is an Australian, has been based in the Cayman Islands since 2005. He is a qualified ...

AFCA chair under fire

ELIZABETH MCARTHUR  |  THURSDAY, 18 FEB 2021
... knowing about his involvement in advocating for the maintenance of certain accounts when ANZ Bank alerted him to money laundering risks. The report found this "misplaced reliance" on Barton was not a flaw on Coonan's part. Coonan announced at the ...