Latest news (24,417 items)

ANZ might pull plug on Revolut before ASIC

Pressure is mounting on the Australian Securities and Investments Commission to revoke special regulatory relief it granted to controversial mobile payments provider, Revolut Ltd.The company is planning to launch in Australia this month but its prospects look less certain after a recent wave of negative newspaper reports in London that allege the company last year failed to tell UK regulators about a protracted breakdown in its anti-money laundering systems. read more

NAB insider charged with bribery, fraud

A second woman, identified in Sydney's Central Local Court as Rosemary Rogers, has been charged as part of an ongoing investigation into a multi-year, multi-million dollar fraud against National Australia Bank.These charges mirror those laid on Friday against Rogers' alleged co-conspirator, Helen Rosamond, director of Human Group, which has provided training services to NAB for a decade. read more

CommBank AML blues widen

ASIC is looking at whether CBA's most senior staff met their obligations of "care and diligence" in relation to systemic breakdowns in the bank's AML controls between 2012 and 2017.The regulator is looking for evidence to mount a civil case against at least five CBA directors. The investigation includes whether the bank allocated sufficient resources to fix the problems between 2015 and 2017. read more

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