Austrac (74 items)

Friends and foe rock banking pillar

There may be a dash for the exits from the rowdy sanctums of the Australian Bankers Association, with more than one bank jostling for first mover advantage and the accolades that may come from a select set of stakeholders for doing so.Banks of different stripes are treating a respectful - or in your face - resignation from the ABA as a strategic matter of the utmost importance. read more

CBA panel bring history to APRA inquiry

APRA rolled out a trio of well known scrutineers on Friday to turn risk and culture matters at Commonwealth Bank head over heel via an eight-month inquiry. The Australian Prudential  Regulation Authority said the panel of three would have a budget to engage "other external expertise and advice as its sees fit," so CBA's board and management may find a lot of new faces asking questions and chewing through time. read more

Hong Kong probe into CBA an HSBC headache

The money laundering compliance saga at Commonwealth Bank of Australia is poised to induce an unwanted headache for one of the world's largest financial institutions.HSBC, a pillar of Hong Kong's vigorous banking sector for more than 150 years, could be dragged into investigations into how crime syndicates operating in Australia were able to move dirty cash valued in the hundreds of millions through CBA's local and international network. read more

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