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Showing 81 - 90 of 156 results for "AUSTRAC"

Westpac names new chief executive

JAMIE WILLIAMSON  |  THURSDAY, 2 APR 2020
... variable rewards are cancelled for 2020 in recognition of collective accountability for the financial crimes that led to the AUSTRAC action last year.

Westpac hit with another class action

ELIZA BAVIN  |  FRIDAY, 13 MAR 2020
Westpac confirmed it has been hit with another class action relating to the AUSTRAC scandal. The class action, brought by Johnson Winter & Slattery, has been filed on behalf of certain shareholders who acquired interest in Westpac securities or equity ...

Westpac forks out $80m for AUSTRAC scandal

ELIZA BAVIN  |  THURSDAY, 20 FEB 2020
Westpac said it expects $80 million in additional expenses in FY20 as parts of its response plan in relation to the AUSTRAC scandal. The bank provided a company update to the ASX, in which it outlined its progress on its response plan for the AUSTRAC ...

Argo Investments' profit plunges

ALLY SELBY  |  MONDAY, 3 FEB 2020
... markets rising in general, the first half saw further weakness in banking stocks as escalating remediation costs, new AUSTRAC allegations and continued management changes, particularly for Westpac, continued to weigh on the sector," Argo said. "This ...

Westpac facing new class action

ELIZA BAVIN  |  MONDAY, 3 FEB 2020
... Westpac is facing a new class action over issues connected to the bank's monitoring of financial crime and the recent AUSTRAC scandal. Rosen Law, a US based international investor rights law firm, filed the class action on behalf of purchasers of ...

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 ...