AUSTRAC has ordered the appointment of an external auditor to three entities within the Bell Financial Group.
AUSTRAC has identified serious concerns with NAB’s compliance with the AML and Counter-Terrorism Financing (CTF) Act 2006.
The notable items include new items of $816m, as well as an additional $404m provision for Westpac’s settlement with AUSTRAC.
The Federal Court of Australia orders Westpac to pay a $1.3 billion penalty for its breaches of the AML/CTF Act.
AUSTRAC has found that Afterpay has uplifted its AML/CTF compliance framework and financial crime function.