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Showing 71 - 80 of 145 results for %22Anti-Money Laundering%22

Brian Hartzer steps down from Westpac

ELIZABETH MCARTHUR  |  TUESDAY, 26 NOV 2019
... Federal Court seeking civil penalty orders against Westpac relating to "systematic" non-compliance with the Anti Money Laundering and Counter Terrorism Act 2006 on over 23 million occasions.

Westpac halts short-term bonuses, culls Litepay

HARRISON WORLEY  |  MONDAY, 25 NOV 2019
... big bank will halt short term incentives for its executive team as it deals with the fallout from its alleged breaches of anti-money laundering and counter terrorism financing laws. Announcing the bank's three-point response plan to the statement ...

Westpac faces 23 million breaches

ELIZA BAVIN  |  WEDNESDAY, 20 NOV 2019
... Federal Court seeking civil penalty orders against Westpac relating to "systematic" non-compliance with the Anti Money Laundering and Counter Terrorism Act 2006 on over 23 million occasions. AUSTRAC chief executive Nicole Rose said that AUSTRAC's decision ...

US reaches $1bn settlement over 1MDB scam

ELIZABETH MCARTHUR  |  WEDNESDAY, 6 NOV 2019
... of California. "The message in this case is simple: the United States is not a safe haven for pilfered funds. Our strict anti-money laundering controls are effective, and we will seize assets used by criminals to conceal ill-gotten gains." Between 2009 ...

Afterpay slides in global fintech rankings

HARRISON WORLEY  |  TUESDAY, 5 NOV 2019
... places from its 2018 ranking to reach 47th. In June AUSTRAC went after the firm, ordering an audit of its compliance with the Anti-Money Laundering and Counter Terrorism Financing Act (AML/CTF), with a final report due later this month. At the time Afterpay ...

BNP Paribas appoints new Australia head

ELIZA BAVIN  |  MONDAY, 28 OCT 2019
... Earlier this month, the Financial Industry Regulatory Authority fined the company US$15 million for failing to develop an anti-money-laundering program that could detect suspicious penny stock and wire transfer activity.

AUSTRAC orders audit of PayPal

ELIZA BAVIN  |  TUESDAY, 1 OCT 2019
... community." PayPal Australia may be subject to fines or even possible criminal prosecution if found to be in breach of the Anti-Money Laundering and Counter -Terrorism Financing Act 2006. AUSTRAC said it will work closely with the company during the ...

FASEA exam results spark debate

ELIZABETH MCARTHUR  |  FRIDAY, 9 AUG 2019
... not done it) that it will be a lot more in depth than the exam - which covered ethics, corporations law, privacy act and anti-money laundering requirements - could be," she said.

AUSTRAC zeroes in on Afterpay

HARRISON WORLEY  |  MONDAY, 17 JUN 2019
Tech-darling Afterpay is feeling the regulatory heat after AUSTRAC ordered an audit of the fintech's compliance with Anti-Money Laundering and Counter-Terrorism Financing Act (AML/CTF) laws. AUSTRAC said an external auditor will examine Afterpay's governance ...

Kyckr improves platform

ELIZABETH MCARTHUR  |  MONDAY, 6 MAY 2019
... products for financial services firms. These products allow companies to verify the identities of their clients to prevent money laundering and financial crime. Kyckr has debuted a new mobile-responsive design which the company says is centred around ...