AUSTRAC’s long-running investigation into NAB’s compliance with anti-money laundering and counter-terrorism financing laws has progressed, with the matter being referred to the financial crime regulator’s enforcement team.
AUSTRAC has taken enforcement action against military lender Australian Military Bank after accusing the bank of violating anti-money laundering, counter-terrorism finance laws.
Horizon Oil has won its bid to shield Herbert Smith Freehills documents advising the company did not breach foreign bribery laws from being revealed in a defamation lawsuit brought against Fairfax Media by a Papua New Guinea government Minister.
A royal commission has been established in Victoria to look into whether Crown Melbourne is suitable to hold a casino licence in the state, following a damning report from the NSW gaming authority.
Maurice Blackburn has hit Crown Resorts with a shareholder class action alleging the casino giant had lax anti-money laundering compliance systems in place over a six-year period.
A judge has given the greenlight to AUSTRAC’s $1.3 billion penalty against Westpac over the bank’s 23 million breaches of money laundering and counter-terrorism laws, the biggest regulatory fine ever paid by an Australian company.
Crown Resorts is the target of an investigation by AUSTRAC’s enforcement team in connection with its dealings with high-risk customers at its Melbourne casino.
Financial crimes regulator AUSTRAC will not take legal action against Afterpay over its compliance with anti-money laundering laws, following an external auditor’s report that found the buy now, pay later provider had received “incorrect” legal advice from several top-tier law firms about its compliance program.
Westpac has agreed to pay a whopping $1.3 billion civil penalty to resolve AUSTRAC enforcement action over the bank’s 23 million breaches of money laundering and counter-terrorism laws.
AUSTRAC has slugged US financial services giant State Street Bank and Trust Company with a $1.24 million fine for failing to report international funds transfers in breach of anti-money laundering and counter-terrorism laws.