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Showing 31 - 40 of 45 results for %22Anti-Money Laundering %26 Counter Terrorism Financing Act%22

CBA contemplates CommInsure sale

ALEX BURKE  |  WEDNESDAY, 9 AUG 2017
... the recent news 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 ...

CBA blames reporting failure on software error

EMMA RAPAPORT  |  MONDAY, 7 AUG 2017
... made" which can have 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 ...

CBA faces anti-money laundering allegations

EMMA RAPAPORT  |  FRIDAY, 4 AUG 2017
... Commonwealth Bank 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 ...

ASIC boosts support for regtech

KARREN VERGARA  |  WEDNESDAY, 31 MAY 2017
... reduce the amount 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 ...

AUSTRAC launches tool to help advisers fight terrorism

ALEX BURKE  |  TUESDAY, 2 MAY 2017
... placed to detect possible criminal activity by customers, and are required to report suspicious matters to AUSTRAC under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006. The new poster provides a selection of red flag indicators that ...

ASIC employee faces court

KERRIE SYDEE  |  FRIDAY, 11 NOV 2016
... contrary to 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 ...

Trillion dollar super industry attractive to organised criminals

DARREN SNYDER  |  MONDAY, 1 JUN 2015
... to address wrongdoing and non-compliance by SMSF trustees; capturing rollovers to SMSFs as a designated service under the Anti-Money Laundering and Counter Terrorism Financing Act 2006 ; and establishing a register of SMSF auditors has all helped to ...

SPAA calls for reduction in SMSF levy

JAMES FERNYHOUGH  |  MONDAY, 10 MAR 2014
... as related party transactions, SMSF bank verification, SMSF roll-overs being included as a 'designated service' under the Anti-Money Laundering and Counter Terrorism Financing Act 2006, and taxing super benefits received illegally at the top tax rate ...

Advisers should train to fight tax evasion: FPA

LAURA MILLAN  |  THURSDAY, 23 JAN 2014
... De Gori told Financial Standard that the organisation is working on a submission paper that falls within the review of the Anti-Money Laundering and Counter-Terrorism Financing Act (AML/CTF) 2006. "There is room for education and training for advisers ...

AUSTRAC to probe anti-money laundering breaches

MICHAEL HOBBS  |  THURSDAY, 2 JUL 2009
... (AUSTRAC) has accepted enforceable undertakings from Barclays Bank PLC and Mega International Commercial Bank Co for breaching anti-money laundering and counter terrorism laws. An AUSTRAC statement said BarCap, the local office of Barclays Bank, acknowledged ...