There is a relationship between banks and their regulators that, although unspoken, has always been clear; when a regulator wants to take any regulatory action, the bank expects to be given prior warning, and is usually always given a chance… Read more >
As of May 14th, digital currency exchanges (DCEs) located in Australia will be required to register with Australia’s financial intelligence agency, AUSTRAC, which will have the power to police over the cryptocurrency platforms. The new law is designed to monitor… Read more >
On July 1st of last year Australia acknowledged Bitcoin and other cryptocurrencies as legal tender, and now the country is currently working on plans to regulate cryptocurrency through implementing exchange regulation and licensing, and taxation. Australia is a growing market… Read more >
Commonwealth Bank (CBA) has been accused by the Australian Transaction Reports and Analysis Centre (AUSTRAC) of failing to comply with anti-money laundering (AML) and terrorism financing laws on nearly 54,000 occasions between November 2012 and September 2015. Law firm Maurice Blackburn… Read more >
The Commonwealth Bank of Australia (CBA) is accused of failing to report more than 53,000 “serious and systemic” breaches of anti-money laundering (AML) laws involving at least four criminal syndicates and over $44 million Australian dollars. This month, Australia’s financial… Read more >
The International Anti-Corruption Coordination Centre (IACCC) will be launching a multinational effort to combat grand corruption which can include bribery of public officials, embezzlement, abuse of power and money laundering of profit from illegal activity. At the time of the… Read more >