Anti-Money Laundering

Perth Mint Misses AUSTRAC Deadline, CEO Resigns

31/05/2023

The delay was attributed to the complexity of the audit and the challenges in gathering the required information.

Anti-Money Laundering

APRA, AUSTRAC Enter Enforceable Undertakings With BoQ

31/05/2023

For APRA’s enforceable undertaking, Bank of Queensland has to set aside an extra A$50mn in regulatory capital.

Payments & Settlements

CPMI Seeks Experts on Cross-border Payment APIs

31/05/2023

API experts are invited to join a new CPMI panel to work onharmonisation of API protocols used in cross-border payments.

Anti-Money Laundering

Australia: Crown Agrees to A$450m Penalty for AML Failures

31/05/2023

Crown admitted to AML/CTF breaches at its Melbourne and Perth casinos and agreed to pay A$450mn, subject to court approval.

Operational Risk

ORX Launches New Greenwashing Scenario Toolkit

30/05/2023

The toolkit is designed to support banks and insurers in creating a greenwashing scenario and help them tackle ESG-related operational risk.

Anti-Money Laundering

SkyCity Adelaide Ordered to Review AML/CTF Programme

30/05/2023

SkyCity Adelaide ordered to report on how it is meeting its AML/CTF obligations, and appoint an independent monitor.

Credit Risk

IASB Seeks Feedback on IFRS 9 Impairment Requirements

30/05/2023

The IASB is seeking feedback to help it assess whether the impairment requirements in IFRS 9 are continuing to work as intended.

Payments & Settlements

HKMA to Ramp Up Cross-border Collaboration with UAE

30/05/2023

The HKMA will form a joint working group with CBUAE and banking sector stakeholders to take forward the agreed initiatives.

Supervision & Enforcement

US OCC Sets Out Policy for Addressing “Persistent Weaknesses” at Banks

30/05/2023

The OCC may require banks to increase capital, restrict dividends, sell assets, divest subsidiaries or exit markets if they fail to fix “persistent weaknesses”.