Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 31 - 40 of 59 results for %22Counter Terrorism Act%22

CBA settles with AUSTRAC for $700m

JAMIE WILLIAMSON  |  MONDAY, 4 JUN 2018
... pay $700 million to resolve civil proceedings brought against it by AUSTRAC for contravening anti-money laundering and counter-terrorism laws - almost double what it anticipated. CBA has announced it reached an agreement with AUSTRAC that will see the ...

Cryptocurrency service providers now regulated: AUSTRAC

HARRISON WORLEY  |  THURSDAY, 12 APR 2018
... 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 and report suspicious actions ...

CBA and AUSTRAC agree to mediate

ALEX BURKE  |  FRIDAY, 23 MAR 2018
... 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 commenced by AUSTRAC, the ...

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 ...

CBA embroiled in rate-rigging allegations

KARREN VERGARA  |  WEDNESDAY, 31 JAN 2018
... a string of scandals that will test newly minted chief executive Matt Comyn's leadership, which include anti-money and counter-terrorism law breaches, and shareholder class action alleging it failed continuous disclosure obligations. ASIC commenced similar ...

IMF ramps up funding for CBA class action

EMMA RAPAPORT  |  FRIDAY, 22 DEC 2017
... "misleading and deceptive" statements about its compliance. Last week CBA was hit with fresh allegations of money laundering and counter-terrorism financing levelled by the regulator. In an amended statement of claim released yesterday, AUSTRAC filed ...

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 ...

Advisers call for exam, standards clarity

KARREN VERGARA  |  WEDNESDAY, 29 NOV 2017
... the FPA is recommending include Chapter 7 of the Corporations Act; the Tax Agent Services Act; anti-money laundering and counter-terrorism laws; common law fiduciary duties and ethics, he said. One audience member expressed concerns the exam is too legalistically ...

CBA chair defends executive bonuses

KARREN VERGARA  |  MONDAY, 23 OCT 2017
... bonuses to senior executives between 2015 and 2016, the period it was made aware of potential anti-money laundering and counter-terrorism law breaches, a public inquiry has found. Commonwealth Bank chair Catherine Livingstone told the Standing Committee ...

Westpac faces class action over life insurance

KARREN VERGARA  |  MONDAY, 16 OCT 2017
... 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 to its life insurance products. ...