Thomson Reuters Bureau Chief for the Asia Pacific Nathan Lynch talks about his book The Lucky Laundry which looks at the detrimental impacts of dirty money on people and institutions. The Lucky Laundry by Nathan Lynch can be found at your local bookstore!
Resources:
Record $45 million civil penalty ordered against Tabcorp: https://www.austrac.gov.au/record-45-million-civil-penalty-ordered-against-tabcorp
Austrac and CBA agree to $700 million penalty: https://www.austrac.gov.au/austrac-and-cba-agree-700m-penalty
Westpac ordered to $1.3 billion: https://www.austrac.gov.au/news-and-media/our-recent-work/westpac-penalty-ordered
AGS Helped on largest civil penalty in Australian corporate history: https://www.ags.gov.au/publications/news/AGS_AUSTRAC_largest_%20civil_penalty_in_%20Aust_history_6Jun18
Fintel Alliance: https://www.austrac.gov.au/about-us/fintel-alliance
APRA releases CBA Prudential Inquiry Final Report and accepts Enforceable Undertaking form CBA : https://www.apra.gov.au/news-and-publications/apra-releases-cba-prudential-inquiry-final-report-and-accepts-enforceable
APRA releases report on industry self-assessments into governance, culture and accountability: https://www.apra.gov.au/news-and-publications/apra-releases-report-on-industry-self-assessments-into-governance-culture-and
Royal Commission into misconduct in the Banking, superannuation and Financial Services Industry: https://www.royalcommission.gov.au/banking#:~:text=The%20Royal%20Commission%20into%20Misconduct,into%20misconduct%20in%20the%20banking%2C
Tranche too hard: Australia edges forward with glacial AML/CTF law reform agenda: https://insight.thomsonreuters.com.au/business/posts/tranche-too-hard-australia-edges-forward-with-glacial-aml-ctf-law-reform-agenda
AML/CTF ACT: https://www.austrac.gov.au/business/legislation/amlctf-act
Money transferred to and from overseas: International funds transfer instruction (IFTI) reports: https://www.austrac.gov.au/business/how-comply-guidance-and-resources/reporting/money-sent-overseas-itfi
Tipping off: https://www.austrac.gov.au/business/how-comply-and-report-guidance-and-resources/reporting/suspicious-matter-reports-smrs/tipping#:~:text=A%20breach%20of%20the%20tipping,effect%20on%2017%20June%202021.
Podcast: AML & Financial Crimes Congress 2022 Sanctions Edition: https://thegrcinstitute.org/news/view/3193
Save the Date the Annual GRC 2022 Conference being held (online) on Tuesday 11th October 2022 – please save the date in your calendar!