Search ResultsShowing 1 - 10 of 68 results for "AUSTRAC"
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 ...
Thousands exit Westpac raise
HARRISON WORLEY  |  WEDNESDAY, 11 DEC 2019
... million of investor capital, and the big bank did it all despite losing tens of millions in commitments in the wake of the AUSTRAC scandal that claimed the scalp of chief executive Brian Hartzer. The bank overshot its $500 million share placement plan ...
Regulators circle as scandal engulfs Westpac
ALLY SELBY  |  WEDNESDAY, 4 DEC 2019
... proceedings under the Banking Executive Accountability Regime (BEAR) against the besieged bank. It comes nearly two weeks after AUSTRAC's explosive exposure of 23 million money laundering breaches by Westpac's international money transfer product ...
Industry fund for coal miners on ESG journey
ELIZABETH MCARTHUR  |  MONDAY, 2 DEC 2019
... how the panel was thinking about governance following the Royal Commission. The question prompted the panel to discuss AUSTRAC's recent claim that Westpac breached anti-money laundering laws 23 million times. Thomas explained it was particularly ...
Westpac gives investors an out
HARRISON WORLEY  |  THURSDAY, 28 NOV 2019
Westpac has opened the exit door for share purchase plan investors caught unaware by AUSTRAC's action against the bank. Following discussions with corporate regulator ASIC, Westpac has opted to provide a withdrawal option for applicants to its share ...
ASIC launches investigation into Westpac
ELIZABETH MCARTHUR  |  TUESDAY, 26 NOV 2019
More woe for Westpac as 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 ...
Brian Hartzer steps down from Westpac
ELIZABETH MCARTHUR  |  TUESDAY, 26 NOV 2019
Westpac chief executive Brian Hartzer has stepped down in the wake of AUSTRAC's investigation . Westpac today announced Hartzer will exit, with current chief financial officer Peter King taking over as acting chief executive from December 2. Hartzer ...
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