• Contact
  • Feedback
Banking Day
Stay Ahead. Stay Informed.
Concise. Candid. Provocative.
Get the daily banking news that matters
Banking Day – Your trusted source for independent financial insights.
Subscribe Now
  • News
  • Topics
    • All Topics
    • Briefs
    • Major Banks
    • Authorised deposit-taking institutions
    • Insurance, funds and super
    • Payments, mobile & wallets
    • Consumer lending
    • Mortgages
    • Business lending
    • Finance regulation
    • Debt capital markets
    • Ratings agencies
    • Equity capital markets
    • Professional services
    • Work & career
    • Foreign news
    • Other topics
  • Free Trial
  • Subscribe
  • Resources
    • Industry events
  • About us
    • About Banking Day
    • Advertise
    • Feedback
    • Contact Banking Day
  • Search
  • Login
  • My account
    • Account settings
    • User Admin
    • Logout

Login or request a free trial

Brief: Dual track strategy for PEXA sale, Westpac 'nonchalant' over tax-havens

17 November 2017 6:05PM
The AFR's Street Talk column reports that Link and Macquarie, two of the largest shareholders on the register of the digital property exchange platform, Property Exchange Australia (PEXA), might join forces and postpone or cancel a planned IPO. AFR assessed Link Group having both "a track record of turning large and complex IT projects into efficient businesses and a proven ability to integrate both large and small acquisitions," a factor not lost on PEXA's advisers as they continue on a dual track strategy. Westpac opened an account for a company linked to a Kazakh multimillionaire politician in the tax haven of Cook Islands without doing any identity checks, according to the Paradise Papers - the documents leaked after the files of offshore law firm Appleby were obtained by the German newspaper Süddeutsche Zeitung and shared.  The files suggest a nonchalant attitude in Westpac to basic procedures for international money transfers on "knowing your client", which was similar to CBA's abuse of ATM facilities in Australia two years later, the AFR reports.  

Normal 0 false false false EN-AU X-NONE X-NONE

I'm a returning subscriber

*
Password reset *
Login

Request a free trial

  • Emailing you the news at 7am.
  • Covering core lending and funding issues, strategy, payments, regulation, risk management, IT, marketing and more.
  • Original news and summaries of major stories from other media – ditch your newspaper subscriptions.
  • Focused on banking and finance, saving you the time spent wading through newspapers and other services.
  • With reporting from former editors and senior writers from the AFR and The Australian.
  • Configured for your phone, laptop and PC.
Free trial Banking Day
Stay Ahead. Stay Informed.
Concise. Candid. Provocative.
Get the daily banking news that matters
Banking Day – Your trusted source for independent financial insights.
Subscribe Now

Consumer lending

  • Latitude, Harvey Norman liable for interest free GO card con

Copyright © WorkDay Media 2003-2025.

Banking Day is a WorkDay Media publication

WorkDay Media Unit Trust

  • Privacy policy
  • Terms of access and use