The red and white bank saw a AU$1.9 billion drop in profit in H1. …read more Source:: Open Source S
Tag: austrac
310 digital currency exchanges registered with Austrac
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•They occurred after the watchdog got the green light in December 2017 to extend anti-money laundering and counter-terrorism financing regulation to digital currency exchanges. …read more Source:: Open Source S
Westpac coughs up AU$25m to improve data sharing amid Austrac claims
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•Austrac alleges the bank failed to consistently assess and monitor ongoing money laundering and terrorism financing risks. …read more Source:: Open Source S
Austrac trialling blockchain to automate funds transfer instructions
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•The proof of concept is testing the feasibility of using blockchain to help entities such as banks, remitters, and casinos, automate international fund transfer instructions reporting. …read more Source:: Open Source S
Commonwealth Bank’s record AU$9.88b profit eclipsed by Austrac proceedings
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•The bank reported AU$9.88 billion in profit for the 2017 financial year, but the heat is still on CEO Ian Narev amid allegations the bank has been involved in ‘serious …read more Source:: Open Source S