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Showing 71 - 80 of 203 results for "Money laundering"

Westpac enters into court enforceable undertaking

ANNABELLE DICKSON | THURSDAY, 3 DEC 2020

... 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 "immature and ...

APRA takes action against Westpac

JAMIE WILLIAMSON | TUESDAY, 1 DEC 2020

... governance is ongoing. Commenced in December 2019, the review came on the back of AUSTRAC's allegations of money laundering. At the time, Westpac was forced to apply an additional $1 billion of capital - an add-on that remains in place.

Vatican shakes up financial management

ELIZABETH MCARTHUR | MONDAY, 16 NOV 2020

... made with Catholic Church money. Gianluigi Torzi is accused of extortion, embezzlement, aggravated fraud and money laundering in relation to the deal and is being held in the Vatican. Police raided the Secretariat of State's office as part of the investigation. ...

Westpac profits down on AUSTRAC fine

ANNABELLE DICKSON | MONDAY, 2 NOV 2020

... 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, which the bank ...

Westpac settles two class actions

KARREN VERGARA | FRIDAY, 30 OCT 2020

Westpac has agreed to settle two separate class actions relating to anti-money laundering breaches and rate rigging initiated in the US for undisclosed amounts. The bank settled the action filed by Rosen Law Firm relating to its failure to monitor financial ...

ANZ flags earnings hit

ANNABELLE DICKSON | WEDNESDAY, 28 OCT 2020

... their full year results. Westpac flagged $1.2 billion of costs with $415 million after tax going towards anti-money laundering and counter-terrorism financing failures it owes in penalties and AUSTRAC's legal costs It also wrote down goodwill and ...

Westpac hit with $1.2bn of losses

KARREN VERGARA | MONDAY, 26 OCT 2020

... business and software write downs totalled $568 million after tax. Westpac increased its liabilities related to anti-money laundering and counter-terrorism financing failures it owes in penalties and AUSTRAC's legal costs from $404 million to $415 million ...

Westpac puts Australia on bad banking leaderboard

ELIZA BAVIN | WEDNESDAY, 14 OCT 2020

... three after reaching the record breaking deal with AUSTRAC following 23 million breaches of the nation's anti-money laundering laws. Goldman Sachs was number one, having paid US$3.97 billion in relation to settlement charges in Malaysia against the ...

State Street targets insurance outsourcing

KARREN VERGARA | TUESDAY, 13 OCT 2020

... AUSTRAC for allegedly breaching 99 times its obligation to report international transfers to the agency under Anti-Money Laundering and Counter-Terrorism Financing laws.

Crypto exchange owners charged

KARREN VERGARA | THURSDAY, 8 OCT 2020

... founders of derivatives cryptocurrency exchange BitMEX are facing criminal charges for allegedly violating anti-money laundering laws and basic compliance procedures. The Commodity Futures Trading Commission (CFTC) has charged co-founders Arthur Hayes ...

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BT appoints new head of strategy

KARREN VERGARA

A former Allianz Retire+ executive has joined BT as the new head of strategy.

ASX sees trade volumes soar in May

MATTHEW WAI

ASX saw a substantial growth in trade volumes last month, despite continued lackluster movement in IPOs.

Otivo launches AI-powered financial advice

MATTHEW WAI

Otivo has launched a mobile app for Australians to access licensed advice powered by AI.

Munro expands access to climate focused fund

VINNY VUCAGO

The Munro Global Growth Climate Leaders PIE Fund has been opened to retail investors in New Zealand.

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