Governance, Risk & Compliance Australia to push ahead with Tranche 2 laws amid international pressure 11 April 2023 The Australian government is preparing to move ahead with the long-awaited second tranche of the country’s anti-money laundering regime Read more
Governance, Risk & Compliance ANALYSIS: Sri Lankan currency controls reflect fraught financial crime landscape 2 March 2023 The active enforcement of currency controls in Sri Lanka, amid a deepening economic crisis, has underscored the fluid operating environment for risk and compliance teams in the Asia-Pacific region. Read more
Governance, Risk & Compliance ANALYSIS: Australian police forging direct ties with major banks to combat laundering 16 September 2022 he Australian Federal Police (AFP) has taken its work with the financial intelligence community to a new level by forging direct partnerships with Australia’s “big four” banks. Read more
Governance, Risk & Compliance Anti-corruption campaigners hopeful for reform, following Najib’s 1MDB jail sentence 24 August 2022 On Tuesday the Federal Court in Putrajaya denied Najib’s final appeal and ordered the former prime minister to serve a 12-year prison sentence. Read more
Governance, Risk & Compliance Financial services firms urged to increase focus on terrorism financing 2 August 2022 Law enforcement agencies are urging financial services firms to pay greater attention to the financing of violent extremism. Read more
Governance, Risk & Compliance ASIC wins first criminal conviction over “fees for dead people” scandal 8 July 2022 The Australian conduct regulator has secured its first criminal conviction for failing to update defective disclosure statements, over the “fees for dead people” scandal that emerged from the financial services royal commission. Read more
Governance, Risk & Compliance Casinos to embrace “local independent boards” in wake of AML enquiries 17 June 2022 Australia’s national casino operators are likely to form independent boards in every state in response to the scathing findings from the Crown and Star inquiries. Read more
Governance, Risk & Compliance Westpac penalties top A$113 million over “widespread” compliance failures 18 May 2022 Westpac Banking Corporation has received an A$40 million penalty for charging advice fees to dead customers. Read more
Governance, Risk & Compliance IMPACT ANALYSIS: ASIC warns companies to get their whistleblower policies in order 7 April 2022 whistleblower protection regime, the Australian Securities and Investments Commission (ASIC) has warned. Read more
Governance, Risk & Compliance AUSTRAC claim alleges A$69 billion laundered through Crown Resorts 8 March 2022 The Australian anti-money laundering agency has filed a civil claim against Crown Resorts, alleging that A$69 billion was laundered through the business over a five-year period. Read more