The Australian government is preparing to move ahead with the long-awaited second tranche of the country’s anti-money laundering regime
Read moreANALYSIS: Sri Lankan currency controls reflect fraught financial crime landscape
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 moreANALYSIS: Australian police forging direct ties with major banks to combat laundering
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 moreIMPACT ANALYSIS: ASIC ‘generally effective’, needs cultural shift -Financial Regulator Assessment Authority report
The Australian Securities and Investments Commission (ASIC) is “generally effective and capable”.
Read moreAnti-corruption campaigners hopeful for reform, following Najib’s 1MDB jail sentence
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 moreFinancial services firms urged to increase focus on terrorism financing
Law enforcement agencies are urging financial services firms to pay greater attention to the financing of violent extremism.
Read moreASIC wins first criminal conviction over “fees for dead people” scandal
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 moreFintech, regtech and the role of compliance in 2023
Digital transformation and technological innovation continue to bring widespread change to financial services firms many of which have chosen to continue with the new ways of working adopted during the…
Read moreCasinos to embrace “local independent boards” in wake of AML enquiries
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 moreWestpac penalties top A$113 million over “widespread” compliance failures
Westpac Banking Corporation has received an A$40 million penalty for charging advice fees to dead customers.
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