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.
Read moreAustralian 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.
Read moreNew 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.
Read moreSpeed, volume of regulatory change continue to challenge firms in Asia – poll
The pace and volume of regulatory change will be the single greatest challenges for compliance officers across the Asia-Pacific region in 2021.
Read moreInside AML: How Australia’s banks joined forces to break open a “cuckoo smurfing” syndicate
Australia’s world-leading Fintel Alliance has secured a major win in the fight against organised financial crime, after teaming up with state police for a “week of action” on cuckoo smurfing.
Read moreThomson Reuters Wins Two Awards for Best Regulatory Change and Compliance Training Solutions
Thomson Reuters Regulatory Intelligence (TRRI) has scooped two coveted industry gongs at the Regulation Asia Awards for Excellence during an online ceremony on Wednesday evening. The awards were selected by…
Read morePublic-private sectors must work together to restore trust, manage risks post-COVID
The public and private sectors must work together more closely to restore trust and stability across international institutions and to enable them to respond more quickly to major risk events, a leading compliance expert has said.
Read moreCash Converters in AUSTRAC’s gunsights, as regulator sizes up next enforcement targets
Pawnbrokers, payday lenders and other non-bank reporting entities have been urged to review their financial crime controls, as the Australian Transaction Reports and Analysis Centre (AUSTRAC) broadens its supervision and enforcement crackdown.
Read moreNew Zealand’s central bank takes on first major money laundering investigations
New Zealand’s central bank is well advanced in its first major investigations into anti-money laundering and counter financing of terrorism (AML/CFT) compliance failures, as it ramps up its financial crime compliance enforcement presence.
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