Clarity Summer Edition 2020
14 Feb 2020
LESSONS TO BE LEARNT FROM NZ ON TACKLING MONEY LAUNDERING AND TERRORISM FINANCING
With the Australian Transaction Reports and Analysis Centre (AUSTRAC) launching legal action in November against Westpac accusing them of breaching Australia’s anti-money laundering and counter-terrorism finance laws over 23 million times, stating, “These contraventions are the result of systemic failures in its control environment, indifference by senior management and inadequate oversight by the board,” this has once again brought the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Act into the spotlight.
Click here to view full newsletter