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Showing 61 - 70 of 131 results for "AUSTRAC"

Westpac appoints new chair

ELIZA BAVIN  |  THURSDAY, 23 JAN 2020
... focus, will be invaluable to Westpac as the organisation executes its strategy and implements its response plan for the AUSTRAC statement of claim," Maxsted said. The appointment comes after AUSTRAC launched legal proceedings against the bank, alleged ...

ANZ overcharges 3.4 million customers

ALLY SELBY  |  THURSDAY, 19 DEC 2019
... review remains ongoing, we have not identified any material issues. We are also not aware of any impending litigation from AUSTRAC," Elliot said. Chair David Gonski also addressed the underpayment issue in his opening address at the AGM. "As shareholders ...

Westpac served class action

JAMIE WILLIAMSON  |  WEDNESDAY, 18 DEC 2019
Westpac has confirmed it was served with a class action on behalf of shareholders in relation to the AUSTRAC investigation. The class action has been filed by Phi Finney McDonald. The claim relates to market disclosure issues connected to Westpac's ...

APRA joins in on Westpac scrutiny

ELIZA BAVIN  |  TUESDAY, 17 DEC 2019
... possible breaches of the Banking Act. The prudential regulator said the investigation will focus on the conduct that led to AUSTRAC launching its criminal charges against the bank over an alleged 23 million breaches of anti-money laundering and counter ...

Westpac directors slammed

ALLY SELBY  |  THURSDAY, 12 DEC 2019
... bank's disregard for moral good. "The scandal that has erupted following the disclosure of 29 million legal breaches to AUSTRAC, has shown a blatant disregard for ethical culture and behavior," Medd said. Medd blames the board for the bank's systemic ...

Thousands exit Westpac raise

HARRISON WORLEY  |  WEDNESDAY, 11 DEC 2019
... million of investor capital, and the big bank did it all despite losing tens of millions in commitments in the wake of the AUSTRAC scandal that claimed the scalp of chief executive Brian Hartzer. The bank overshot its $500 million share placement plan ...

Regulators circle as scandal engulfs Westpac

ALLY SELBY  |  WEDNESDAY, 4 DEC 2019
... relating to financing child exploitation in the Philippines and Southeast Asia. Byrnes said APRA is working closely with AUSTRAC and ASIC. "We are actively looking at the issues, but there is not as yet a formal investigation," Byres said. There are ...

Industry fund for coal miners on ESG journey

ELIZABETH MCARTHUR  |  MONDAY, 2 DEC 2019
Mine Super, the $11 billion industry fund for the coal mining industry, has clarified its position on a number of ESG issues. Vasyl Nair is the chief risk officer for Mine Super, he recently spoke at a panel on ESG issues at the annual Investment Performance ...

Westpac gives investors an out

HARRISON WORLEY  |  THURSDAY, 28 NOV 2019
Westpac has opened the exit door for share purchase plan investors caught unaware by AUSTRAC's action against the bank. Following discussions with corporate regulator ASIC, Westpac has opted to provide a withdrawal option for applicants to its share ...

ASIC launches investigation into Westpac

ELIZABETH MCARTHUR  |  TUESDAY, 26 NOV 2019
... next year too. The bank has been accused of 23 million breaches of anti-money laundering laws and counter terrorism laws. AUSTRAC last week applied to the Federal Court seeking civil penalty orders against Westpac relating to "systematic" non-compliance ...