This Month
- Exclusive
- White collar crime
Why diamond studded Swiss watches and luxury handbags worry AUSTRAC
The financial crimes watchdog’s chief executive Brendan Thomas says luxury goods along with cash and real estate have received its highest risk rating.
- Ronald Mizen
No backward step cutting off money flow to criminals: Dreyfus
The strong words from the attorney-general will come hours after the international body tasked with co-ordinating global AML/CTF efforts slams Australia’s performance.
- Ronald Mizen
June
- Exclusive
- Poker machines
Sydney’s Mounties club under AUSTRAC scrutiny for pokies profits
The club, in the city’s south-west, is one of the biggest in terms of gaming machines profit. It is unclear if other NSW clubs are under similar scrutiny from the financial crimes watchdog.
- Zoe Samios
March
Bet365 under investigation by AUSTRAC
The decision to investigate comes more than a year after AUSTRAC announced an independent audit of the bookmaker’s operations.
- Zoe Samios
February
- Analysis
- Online gambling
Bookmakers desperate for a win from AUSTRAC audits
Low discretionary spend, advertising bans and credit card deposits have made margins tight for the wagering sector. The financial crimes watchdog could make it a lot worse.
- Zoe Samios
December 2023
CBA’s Matt Comyn loses his right-hand man, the meticulous David Cohen
Over 15 years at the bank, David Cohen has seen it all. On his retirement, he provides a potted history of CBA’s numerous troubles and its transformation.
- James Eyers
- Exclusive
- AUSTRAC
AUSTRAC to crack down on digital services in 2024
Digital currency exchanges, payment platforms, bullion and non-bank lenders will all be put under the AUSTRAC microscope in 2024.
- Ronald Mizen
August 2023
- Exclusive
- Big four
Crypto platforms a ‘getaway’ for half of scam proceeds
New data says about half of all scam proceeds vanish from the grasp of victims and law enforcement agencies via crypto platforms.
- Lucas Baird and Jonathan Shapiro
July 2023
AUSTRAC gives Crown the country’s best interest rate
The watchdog offered the loan based on a level of evidence so low even the banks it regulates would never accept it.
- Updated
- Hannah Wootton
Can’t afford it: Crown warns changes to AUSTRAC deal could be fatal
A settlement was agreed to on the basis it would be interest free. Justice Michael Lee will ultimately determine whether this goes ahead.
- Zoe Samios
June 2023
BoQ chairman blames ‘industry headwinds’ for share price fall
Equities analysts have slashed their estimate of the company’s value, suggesting the cost of remediation programs demanded by regulators could blow out.
- Lucas Baird and Ayesha de Kretser
May 2023
- Updated
- Banking products
AUSTRAC, APRA issues ignored by BOQ management for years
The failure of Bank of Queensland to correct significant systemic risk management issues first detected almost a decade ago has led regulators to appoint an external auditor and set aside additional capital.
- Updated
- Ayesha de Kretser and Liam Walsh
April 2023
BoQ’s financial crime reporting in compliance focus
Patrick Allaway said BoQ must automate its regulatory reporting, including to AUSTRAC, after it disclosed the risk of penalties at its half-year results.
- Updated
- James Eyers
- Analysis
- Earnings season
More questions than answers at BoQ
Cutting the interim dividend has investors wondering how solid BoQ’s capital position is; hanging up on analysts hardly helps bolster the bank’s case.
- Ayesha de Kretser
January 2023
Sex workers slam banks, regulator over flawed rules
The lobby group says it’s almost impossible for the sex industry to secure banking services if they disclose their occupation.
- Ayesha de Kretser
November 2022
ING strengthens money laundering controls after AUSTRAC probe
ING Australia has accepted an enforceable undertaking from the financial crime regulator, with remediation actions already underway.
- Ayesha de Kretser
Call to extend laundering laws to estate agents, lawyers, accountants
Real estate is considered a particular danger in offering opportunities to help buyers wash dirty money, says AUSTRAC.
- Hannah Wootton and Elouise Fowler
AUSTRAC probes Sportsbet and Bet365 for suspected money laundering
The watchdog has launched a new investigation into suspected dirty cash flowing through one of Australia’s largest bookmakers and its smaller rival.
- Elouise Fowler
August 2022
Financial crimes regulator probes Perth Mint
The financial crimes regulator has launched an investigation into the Perth Mint, Australia’s biggest gold and silver refiner.
- Brad Thompson
May 2022
Westpac’s reshuffle causes hiccup in remediation project
An independent auditor has warned Westpac it will need to focus on integrating the new structure, and not lose institutional knowledge, if its remediation efforts are to stay on track.
- Ayesha de Kretser
