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Showing 1 - 10 of 100+ results for "AUSTRAC"

AUSTRAC to face scrutiny

ELIZABETH MCARTHUR  |  THURSDAY, 24 JUN 2021
The Australian Transaction Reports and Analysis Centre (AUSTRAC), which has handed out record fines to the big banks, will face new scrutiny from the Senate. Labor Senator Deborah O'Neill'smotion to set up an inquiry into the agency through the Senate ...

AUSTRAC investigates NAB, JBWere

KARREN VERGARA  |  MONDAY, 7 JUN 2021
... including JBWere, are allegedly failing their anti-money laundering and counter-terrorism financing obligations, according to AUSTRAC. The financial intelligence agency is investigating NAB's "potential serious and ongoing non-compliance" with respect ...

Westpac senior leader departs

ELIZABETH MCARTHUR  |  TUESDAY, 1 JUN 2021
... leader in Westpac's consumer business comes amid some turbulence for the big bank after it received a record fine from AUSTRAC last year for failing to comply with anti-money laundering and counter-terrorism provisions. The bank announced it would ...

Former Westpac chief executive in new role

KANIKA SOOD  |  TUESDAY, 11 MAY 2021
... clients, and we look forward to working with him." Hartzer departure from Westpac was announced in November 2019, after AUSTRAC alleged Westpac was involved in "systematic" non-compliance with the Anti Money Laundering and Counter Terrorism Act 2006 ...

Westpac profit climbs, executive leaves

ANNABELLE DICKSON  |  MONDAY, 3 MAY 2021
... The bank also noted that its plan in its 'Fix' strategy to strengthen risk governance is underway following the AUSTRAC scandal and also orders from APRA. As a result, Westpac has doubled its financial crime operations team and added 100 roles ...

Brian Hartzer to release leadership book

ELIZABETH MCARTHUR  |  TUESDAY, 23 MAR 2021
... for the book, he said he learnt the engagement lessons through trial and error. Hartzer resigned from Westpac after an AUSTRAC investigation found that the bank had failed to comply with anti-money laundering and counter-terrorism laws. "Because of the ...

Chester eyes ASIC chair role

KARREN VERGARA  |  FRIDAY, 19 MAR 2021
... was part of a panel tasked with inquiring into the activities of regulators. O'Neill also referred to reports that AUSTRAC chief executive Nicole Rose is being considered for the role. In October 2020, Chester took on the role of chair in an acting ...

APRA closes Westpac probe

ELIZA BAVIN  |  FRIDAY, 12 MAR 2021
... Accountability Regime (BEAR), by Westpac. APRA launched the investigation into Westpac last year following allegations by AUSTRAC that Westpac had breached anti-money laundering and counter-terrorism laws. APRA's investigation examined the bank's actions ...

Westpac exec goes part-time

ANNABELLE DICKSON  |  TUESDAY, 9 MAR 2021
... company through various legal and regulatory challenges, including BBSW, responsible lending, the Royal Commission and AUSTRAC," King said. "Importantly, she has been an invaluable member of our executive team and I have greatly benefited from her counsel ...

Westpac best for ESG reporting in Australia: Report

ELIZABETH MCARTHUR  |  FRIDAY, 5 MAR 2021
... Monitor (GEM) study. The positive ESG result for the bank may be surprising given Westpac was fined $1.3 billion after an AUSTRAC investigation found it had breached anti-money laundering and counter-terrorism financing laws. Westpac was one of only ...
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