Business
AUSTRAC chief sights big new target – The Australian Financial Review
Nicole Rose said she’s preparing enforcement action against a major non-banking institution this financial year.
Mr Porter described the April provision of $900 million that Westpac thought would be enough to settle the case as “totally inadequate”.
But the $1.3 billion fine now imposed almost double the $700 million paid by CBA to settle its AUSTRAC case in 2018 reflected Westpac’s “acceptance of the fact that these represent some of the greatest failings of a corporate entity in Australia’s history to abide by Australian law”, he said.
Ms Rose denounced Westpac’s 23 million breaches of the laws, which …
-
Noosa News24 hours agoWoman dead and man rushed to hospital with gunshot wound following crash near Aussie World on Queensland’s Sunshine Coast
-
General22 hours agoSummah Richards, 12, mourned after fatal e-scooter in Laidley, Queensland
-
Noosa News24 hours agoMan arrested after police chase: Driver shot, woman dies in crash
-
General23 hours agoBoy’s drowning adds to ‘most horrific’ Easter toll