BREAKING: Australian banks are extremely vulnerable to money laundering, warns AUSTRAC watchdog - with level of risk for all four major domestic banks 'high' - AML Intelligence
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BREAKING: Australian banks are extremely vulnerable to money laundering, warns AUSTRAC watchdog – with level of risk for all four major domestic banks ‘high’

By Dan Byrne for AMLi

Australia’s financial crimes watchdog has warned that many banks within its borders are still extremely vulnerable to money laundering and terrorism financing risk.

The Australian Transaction Reports and Analysis Centre (AUSTRAC) has said the level of risk for all four of the country’s major banks, as well as many domestic banks, remains “high”.

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