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Showing 61 - 70 of 153 results for "AUSTRAC"

State Street targets insurance outsourcing

KARREN VERGARA  |  TUESDAY, 13 OCT 2020
... services." Locally, State Street has 10.7% of the $3.75 trillion custodian market. It was recently fined $1.25 million by AUSTRAC for allegedly breaching 99 times its obligation to report international transfers to the agency under Anti-Money Laundering ...

AUSTRAC releases guidance on wildlife trafficking

ALLY SELBY  |  MONDAY, 12 OCT 2020
AUSTRAC private-public initiative the Fintel Alliance has released a financial crime guide to combat Australia's illegal wildlife trafficking industry. The guide, developed in partnership with the Department of Agriculture, Water and Environment, draws ...

ASX director retires

ALLY SELBY  |  WEDNESDAY, 30 SEP 2020
A non-executive director has departed the ASX after more than 14 years of service, having joined the board in 2006 following its merger with the Sydney Futures Exchange. Announcing Peter Warne's retirement during the exchange's annual general ...

Westpac reaches $1.3bn AUSTRAC deal

ELIZA BAVIN  |  THURSDAY, 24 SEP 2020
... relation to its contraventions of the anti-money laundering and counter terrorism laws. As part of the agreement with AUSTRAC, Westpac has admitted to additional contraventions that were outlined in an amended statement of claim. These new contraventions ...

State Street cops $1.25m fine from AUSTRAC

KANIKA SOOD  |  WEDNESDAY, 16 SEP 2020
State Street was handed a $1.25 million fine by AUSTRAC for allegedly breaching 99 times its obligation to report international transfers to the agency under Anti-Money Laundering and Counter-Terrorism Financing laws. Under the law (section 45 (2) of ...

ASIC drops CBA investigation

ALLY SELBY  |  THURSDAY, 27 AUG 2020
... taking any action against the bank nor its directors over a money laundering and counter-terrorism scandal identified by AUSTRAC three years ago. In an ASX announcement, CBA told investors that ASIC had concluded its investigation into the bank and would ...

AFP charges early release scammers

ELIZABETH MCARTHUR  |  MONDAY, 10 AUG 2020
... for criminals." The ATO is leading the Serious Financial Crime Taskforce (SFCT) in partnership with the AFP along with AUSTRAC, ASIC, Border Force, the Department of Home Affairs, the Attorney-General's Department and the Australian Criminal Intelligence ...

Westpac discovers additional transaction irregularities

ALLY SELBY  |  TUESDAY, 28 JUL 2020
... has uncovered hundreds of thousands of additional transactions of $10,000 or more that are "incomplete or inaccurate" to AUSTRAC. After further investigation, the bank has discovered an additional 175,000 transactions that were not reported to AUSTRAC ...

Westpac found to be immature, reactive

ELIZA BAVIN  |  FRIDAY, 17 JUL 2020
... The bank first completed a self-assessed CGA back in November 2018, however decided to launch a reassessment following AUSTRAC's allegations the bank breached anti-money laundering and counter-terrorism laws over 23 million times. The controversy led ...

APRA hands reins to ASIC in AUSTRAC case

ALLY SELBY  |  THURSDAY, 18 JUN 2020
... delegated some of its enforcement powers to the corporate watchdog, as the two agencies continue their investigations into AUSTRAC's allegations against Westpac. To limit any overlap, the prudential regulator will hand over responsibilities to investigate ...