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Showing 81 - 90 of 145 results for %22Anti Money Laundering%22

CBA stashes cash for compliance

DARREN SNYDER  |  WEDNESDAY, 12 DEC 2018
... expected costs of the bank's multi-year financial crime compliance program of action. This was launched after the AUSTRAC anti-money laundering penalty announced in June. The provision is in addition to its remediation provisions for Credit Card Plus ...

Overhaul executive remuneration: Poll

KARREN VERGARA  |  MONDAY, 26 NOV 2018
... and appointed chair in January 2017, said the intelligence the remuneration committee received regarding issues such as the anti-money laundering and counter-terrorism scandal, was inadequate but went ahead in approving large pay packets. This is despite ...

CBA board ignored key issues in deciding executive pay

KANIKA SOOD  |  WEDNESDAY, 21 NOV 2018
... ASIC was investigating the bank's conduct in fees-for-no-service, misselling of credit card insurance and its violation of anti-terrorism and money laundering laws. CBA's group chief risk officer of the time David Cohen failed to mention the last three ...

FASEA clarifies adviser exam rules

DARREN SNYDER  |  MONDAY, 19 NOV 2018
... Code of Ethics bridging course. FASEA will also revise the Corporations Act unit to include other legal obligations such as Anti-Money Laundering, Privacy Act 1988 and Tax Practitioners Board requirements. CPD FASEA has reduced the number of CPD hours ...

Australia behind when it comes to pay transparency: AXA IM

HARRISON WORLEY  |  FRIDAY, 14 SEP 2018
... disclosure." Referring to the recent $700m civil settlement between CBA and AUSTRAC over the bank's contravention of anti-money laundering and counter terrorism laws, Christensen said executive pay was becoming difficult for companies to justify ...

AI to transform financial services: Deloitte

HARRISON WORLEY  |  TUESDAY, 21 AUG 2018
... commanding significant value. "There is huge potential for industry collaboration on issues as broad as fraud prevention and anti-money laundering controls, often run inefficiently and ineffectively in the current environment," Lipman said.

ASIC defends enforceable undertakings at Royal Commission

KANIKA SOOD  |  FRIDAY, 17 AUG 2018
... more of the following: the customer's objectives, financial situation and needs...with the purpose of complying with the Anti-money Laundering and Counterterrorism Act 2006 always regulation or AML/CTL rules under that act. ANZ pushed back. The final ...

CBA settles with AUSTRAC for $700m

JAMIE WILLIAMSON  |  MONDAY, 4 JUN 2018
Commonwealth Bank will pay $700 million to resolve civil proceedings brought against it by AUSTRAC for contravening anti-money laundering and counter-terrorism laws - almost double what it anticipated. CBA has announced it reached an agreement with ...

Cryptocurrency service providers now regulated: AUSTRAC

HARRISON WORLEY  |  THURSDAY, 12 APR 2018
... laws ensure these exchanges now face the same regulatory requirements of other regulated financial institutions under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, requiring financial institutions to monitor transactional activity ...

CBA and AUSTRAC agree to mediate

ALEX BURKE  |  FRIDAY, 23 MAR 2018
... evidence in the event mediation is unsuccessful. In December last year, CBA admitted to systems glitches leading to breaches anti-money laundering and counter-terrorism laws on more than 53,000 occasions. In filings submitted in response to the proceedings ...