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Search ResultsShowing 1 - 10 of 100+ results for "AUSTRAC"
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 ...
Westpac prioritises risk management
KARREN VERGARA  |  WEDNESDAY, 17 FEB 2021
... customers it has wronged during the first quarter ending December 2020, as announced in a trading update this morning. As the AUSTRAC matter concludes and ASIC is no longer taking further action after Westpac paid a civil penalty of $1.3 billion relating ...
Australian banks among most fined
ELIZABETH MCARTHUR  |  TUESDAY, 12 JAN 2021
... US$981 million. That figure was mostly made up of Westpac's record $1.3 billion (US$910 million) fine, handed down after an AUSTRAC investigation found the bank had breached anti-money laundering and counter-terrorism financing law. The other two Australian ...
APRA hands down self-assessment report
KARREN VERGARA  |  MONDAY, 21 DEC 2020
... frameworks. In 2020, APRA's KPIs were reviewed to ensure they were aligned to its regulatory counterparts such as ASIC and AUSTRAC. "The review resulted in a streamlined set of measures intended to improve accountability, adopt better practice and reduce ...
Westpac enters into court enforceable undertaking
ANNABELLE DICKSON  |  THURSDAY, 3 DEC 2020
Following the Australian Prudential Regulation Authority's (APRA) review into Westpac's risk governance, both parties have agreed to a court enforceable undertaking (CEU). The CEU requires Westpac to develop an integrated plan that incorporates ...
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