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Showing 31 - 40 of 145 results for %22Anti Money Laundering%22

APRA closes Westpac probe

ELIZA BAVIN  |  FRIDAY, 12 MAR 2021
... Westpac. APRA 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 ...

Westpac exec goes part-time

ANNABELLE DICKSON  |  TUESDAY, 9 MAR 2021
... legal matters 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 ...

Westpac best for ESG reporting in Australia: Report

ELIZABETH MCARTHUR  |  FRIDAY, 5 MAR 2021
... for the bank may 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 ...

Channel Capital expands overseas

KANIKA SOOD  |  WEDNESDAY, 24 FEB 2021
... Islands and other 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 ...

Westpac prioritises risk management

KARREN VERGARA  |  WEDNESDAY, 17 FEB 2021
... concludes and ASIC is no longer taking further action after Westpac paid a civil penalty of $1.3 billion relating to breaches of anti-money laundering and counter terrorism laws, the bank flagged it is still strengthening its risk management around financial ...

Australian banks among most fined

ELIZABETH MCARTHUR  |  TUESDAY, 12 JAN 2021
... Westpac's record $1.3 billion (US$910 million) fine, handed down after an AUSTRAC investigation found the bank had breached anti-money laundering and counter-terrorism financing law. The other two Australian bank fines in 2020 both went to National Australia ...

Technology a tool not a threat: Avaloq

ANNABELLE DICKSON  |  THURSDAY, 17 DEC 2020
... able to react accordingly. One of the most time-consuming tasks for the middle office is the increase in regulation such as anti-money laundering. Respondents noted this has led to having less time to do things to a higher standard. Back office professionals ...

ASIC takes iSignthis to court

ANNABELLE DICKSON  |  TUESDAY, 8 DEC 2020
... its commercial relationship in April 2020, to which VISA said "iSignthis is not operating appropriate programs to manage anti-money laundering and risk." ASIC is seeking declarations and pecuniary penalties against iSignthis and Karantzis and seeking ...

Westpac enters into court enforceable undertaking

ANNABELLE DICKSON  |  THURSDAY, 3 DEC 2020
... risk governance step-change that APRA requires," Lonsdale said. APRA's concerns stem from AUSTRAC's allegations of anti-money laundering (AML) breaches against the bank in December 2019. The prudential regulator had concerns with Westpac's ...

Westpac profits down on AUSTRAC fine

ANNABELLE DICKSON  |  MONDAY, 2 NOV 2020
... "disappointing" full year result with statutory profit down a staggering 66% as a result of the ongoing pandemic and its anti-money laundering fine. Statutory profit decreased $4.94 billion to$2.29 billion while cash earnings tumbled 62% to $2.6 billion ...