This is a joint media release between NSW Police Force and AUSTRAC
Two men have been charged as part of ongoing investigations into an international money-laundering operation.
In June 2020, officers attached to Sutherland Police Area Command established Strike Force Royala to investigate a criminal syndicate responsible for a number of fraud-related matters and the illegal transfer of a substantial amount of funds to offshore accounts.
The Federal Court of Australia has today ordered Westpac to pay a $1.3 billion penalty for its breaches of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act).
A new financial crime guide released today will help businesses to combat Australia’s illegal wildlife trafficking trade by identifying, targeting and reporting suspicious financial activity.
Westpac and AUSTRAC have today agreed to a 1.3 billion dollar proposed penalty over Westpac’s breaches of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act). Westpac and AUSTRAC have agreed that the proposed penalty reflects the seriousness and magnitude of compliance failings by Westpac.
As announced by the Attorney-General and Minister Dutton, I am pleased to confirm that AUSTRAC and Westpac have reached an agreement in which Westpac has admitted to over 23 million breaches of the AML/CTF Act and has agreed to pay a civil penalty of 1.3 billion dollars.
The Federal Court will now determine whether an order for the proposed penalty is appropriate. Subject to the Federal Court’s findings, both AUSTRAC and Westpac agree that this agreement reflects the seriousness and magnitude of compliance failings by Westpac.
AUSTRAC has issued an infringement notice to State Street Bank and Trust Company (State Street) for over $1.24 million for failing to report international funds transfers.
Today, AUSTRAC announced a change to the AML/CTF customer ID and verification Rule to help people experiencing family and domestic violence. Under the rule, if a customer cannot produce their driver’s license or birth certificate, or show a different address, banks and other regulated businesses can use alternative ways to verify their customer’s identity.
The Australian Government has seen a disturbing trend in violence used against children.
The Home Affairs Portfolio is leading the Government’s efforts in countering child sexual exploitation and abuse in the physical and online world.
A 63-year-old Sydney man accused of travelling to the Philippines to sexually abuse children is expected to face court today charged with possessing child abuse material and ‘child sex tourism’ offences.
Several people have been charged by WA Police Force as part of an investigation into a suspected Vietnamese Established Criminal Network involved in money laundering activity.