The Australian anti-money laundering regulator has urged reporting entities to review their risk assessments and compliance controls in the context of two new reports from the Financial Action Task Force (FATF)
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Nathan Lynch
Manager, Thomson Reuters Regulatory Intelligence, Asia-Pacific
Nathan Lynch is an experienced writer, public speaker, manager and technology enthusiast in the field of financial regulation and risk management. At Thomson Reuters, Nathan leads a team of experts who provide breaking news, deep analysis and practical guidance to risk practitioners in the global financial services sector.
Nathan manages Thomson Reuters’ award-winning Regulatory Intelligence team across the Asia-Pacific region, tracking developments in financial services law, regulation, financial crime and risk management.
Nathan has been involved in building innovative, tech-based businesses in the financial services “regtech” sector — including Complinet Australia and the Thomson Reuters Risk business.
Posts by Nathan Lynch
How to avoid AUSTRAC’s feared litigation team
The recent ACAMS Australia conference gave financial crime practitioners an unprecedented level of detail about the strategic decision-making and policy issues behind the record A$1.3 billion
Westpac anti-money laundering litigation.
ANALYSIS: New Zealand’s first banking AML penalty provides key lessons for financial sector
The Reserve Bank of New Zealand has wrapped up its first civil litigation under the anti-money laundering and counter-financing of terrorism regime.
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How launderers exploit Australia’s lax real estate laws to infiltrate banks
International money launderers are exploiting Australia’s continuing failure to pass “Tranche 2” laws, which has allowed them to defeat banks’ anti-crime controls
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AMP reinvents advice model in wake of bruising Royal Commission findings
The company said the new service model, with its aligned advice network, would mark a “new era for financial advice at AMP”.
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Crown should lose gaming licence due to systemic compliance failures: laundering probe
Money laundering concerns have dominated the inquiry, which looked at the extent to which Crown failed to address its financial crime risks.
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Transaction monitoring must sit at heart of AML compliance, says top enforcement lawyer
Regulators will seek evidence of a nuanced and comprehensive transaction monitoring program when they undertake supervision and enforcement work.
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How an informant and a messaging app led to huge global crime sting
It took $100,000 plus expenses, and the opportunity for a reduced prison sentence, for the smartphone developer to collaborate with the FBI.
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Australian senators push for inquiry into money laundering laws
Labor Senator Deborah O’Neill is set to call a vote on Wednesday for a broad-ranging inquiry into the “adequacy and efficacy” of Australia’s Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) framework.
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New Zealand central bank has failed on AML/CFT supervision, says FATF
The Financial Action Task Force has criticised New Zealand’s Reserve Bank for their supervision of the banking sector, despite an overwhelmingly positive national review.
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