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Showing 1 - 10 of 100+ results for "Money laundering"

KPMG spotlights super's biggest challenges

ANDREW MCKEAN  |  FRIDAY, 29 JUL 2022
... must consider guidance material disseminated by AUSTRAC that's relevant to identifying, mitigating, and managing money laundering and terrorist threat risks, but KPMG stated that among other things more consideration should be given to recent reports ...

Australian firms spend 3.6bn on financial crimes

CASSANDRA BALDINI  |  THURSDAY, 16 JUN 2022
... largest cost component due to institutions hiring more compliance staff since 2019. This is due to a rise in anti-money laundering workloads, evolving financial crime and increased regulation. Respondents also said that 80% of Australian compliance professionals ...

Deutsche Bank, DWS raided over greenwashing

JAMIE WILLIAMSON  |  WEDNESDAY, 1 JUN 2022
... month after another on Deutsche's offices were raided over claims of bank employees potentially breaching anti-money laundering laws. At that time, Deutsche said: "This is an investigative measure by the Frankfurt public prosecutor's office in connection ...

NAB evades AUSTRAC fine for non-compliance

ANDREW MCKEAN  |  MONDAY, 2 MAY 2022
National Australia Bank (NAB) has avoided a civil penalty for issues related to anti-money laundering and counter-terrorism financing (AML-CTF) laws. Unlike the Commonwealth Bank and Westpac which received gargantuan fines for AML-CTF breaches, NAB ...

Regulators release crypto, cyber security roadmaps

CHLOE WALKER  |  THURSDAY, 21 APR 2022
... related to ransomware attacks, or someone could be using digital currencies to commit serious crimes such as money laundering, scams, or terrorism financing. Blockchain Australia chief executive Steve Vallas added: "The use of digital currencies for ...

Bell Financial Group in AUSTRAC probe

JAMIE WILLIAMSON  |  THURSDAY, 17 FEB 2022
... Securities, Bell Potter Capital and Third Party Platform to assess the three entities' compliance with anti-money laundering laws. AUSTRAC said compliance concerns arose following a period of engagement with Bell Financial Group, including that the ...

LGIA upgrades anti-money laundering tech

ELIZABETH MCARTHUR  |  TUESDAY, 8 FEB 2022
Newly merged super fund, the $24 billion LGIAsuper, has selected a technology partner to provide anti-money laundering services. The fund chose Napier's Transaction Monitoring and Client Screening tools as part of an upgrade of its anti-money laundering ...

ClearView uses new anti-money laundering technology

ELIZABETH MCARTHUR  |  WEDNESDAY, 8 DEC 2021
ClearView will use Napier technology to fight money laundering activity. The technology will enable ClearView to monitor insights into its customers and identify suspicious behaviour which could be indicative of money laundering more efficiently, while ...

BTC Markets adds to advisory board

ANNABELLE DICKSON  |  TUESDAY, 16 NOV 2021
... depository regime for digital assets, a Decentralised Autonomous Organisation (DAO) company structure, changes to anti-money laundering and counter-terrorism financing guidelines and capital gains tax. The report recommended developing a "token" classification ...

Westpac profit jumps 138%

KARREN VERGARA  |  MONDAY, 1 NOV 2021
... was additional AUSTRAC charges. In FY20, Westpac recorded $2.6 billion of costs related to contravening anti-money laundering and counter-terrorism laws. "Through the year we rebuilt our processes, systems and practices and closed out all the matters ...
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