Anti-Financial Crime & Financial Crime Compliance
Leadership | Insight | Network

AML, Asia-Pacific, Banking

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”.

AML Intelligence
Subscribe now to have unlimited access

With our subscription, you will have unlimited access to the AML Intelligence site, updated daily with the latest analysis, opinion, and breaking news across the sector, newsletter delivered twice per week, access to our Global Bank Fines & Penalties database, free access to Boardroom Series and more!