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Showing 81 - 90 of 175 results for "Money laundering"

Westpac gives investors an out

HARRISON WORLEY  |  THURSDAY, 28 NOV 2019
... law enforcement and the broader industry to detect, prevent and disrupt serious financial crimes. This includes money laundering, terrorism, human trafficking, tax evasion and child exploitation," Corbally said. The ANZ risk boss said recent issues identified ...

ASIC launches investigation into Westpac

ELIZABETH MCARTHUR  |  TUESDAY, 26 NOV 2019
... ASIC confirms it has commenced an investigation into the bank following AUSTRAC's actions in relation to money laundering. An ASIC spokesperson told Financial Standard : "ASIC can confirm that it commenced an investigation on Thursday, 21 November ...

Brian Hartzer steps down from Westpac

ELIZABETH MCARTHUR  |  TUESDAY, 26 NOV 2019
... strategy," Maxstead said. "We are determined to urgently fix these issues and lift our standards to ensure our anti-money laundering and other financial crime prevention processes are industry leading." At the same time, Maxsted announced longstanding ...

Westpac halts short-term bonuses, culls Litepay

HARRISON WORLEY  |  MONDAY, 25 NOV 2019
... 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 of claim launched ...

Westpac faces 23 million breaches

ELIZA BAVIN  |  WEDNESDAY, 20 NOV 2019
Westpac is facing 23 million alleged breaches of anti-money laundering laws and counter terrorism laws. AUSTRAC has applied to the Federal Court seeking civil penalty orders against Westpac relating to "systematic" non-compliance with the Anti Money ...

US reaches $1bn settlement over 1MDB scam

ELIZABETH MCARTHUR  |  WEDNESDAY, 6 NOV 2019
... "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 and 2015 more ...

Afterpay slides in global fintech rankings

HARRISON WORLEY  |  TUESDAY, 5 NOV 2019
... 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 said it welcomed ...

Former PIMCO chief guilty in admissions scandal

ELIZABETH MCARTHUR  |  WEDNESDAY, 30 OCT 2019
... fraud provides which carries a maximum 20 year prison sentence. He is also charged with conspiracy to commit money laundering which provides for a maximum sentence of 20 years in prison.

AUSTRAC orders audit of PayPal

ELIZA BAVIN  |  TUESDAY, 1 OCT 2019
... 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 process.

Adviser cops 262 month jail sentence

JAMIE WILLIAMSON  |  FRIDAY, 6 SEP 2019
... further $10.7 million to the US. Thomas was convicted in November 2016 on 21 counts of wire fraud, bank fraud and money laundering. Although he pleaded guilty at the time, the court determined he was not entitled to a reduced sentence as a result of ...