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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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.

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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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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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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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Regulators will seek evidence of a nuanced and comprehensive transaction monitoring program when they undertake supervision and enforcement work.

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