All posts tagged "Westpac"
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56AML / KYCNAB Contract Workers Received Little AML Training: Report
The revelation comes follows AUSTRAC's launch of a formal enforcement investigation into NAB earlier this month.
June 18, 2021 -
104AML / KYCPNG’s BSP Financial Group Faces Possible AML Penalties
Australia's CBA and NAB are reportedly under scrutiny as they provided correspondent banking services to BSP Financial Group.
June 17, 2021 -
146AML / KYC
AUSTRAC Launches Formal Probe into NAB Over AML Breaches
AUSTRAC said it is not considering civil penalty proceedings at this stage, a decision made based on the work undertaken by NAB to date.
June 7, 2021 -
68Australia & NZWestpac Becomes First Aussie Major to Issue SOFR Debt
The bond issuance included a $300mn floating-rate bond tranche maturing in five years that was priced at a 52 basis point spread over SOFR.
May 28, 2021 -
167Australia & NZASIC Files Suit Against Westpac for Alleged Insider Trading
ASIC says Westpac traded interest rate derivatives to pre-position itself while knowing it would be selected to execute a A$12bn interest rate swap hours later.
May 6, 2021 -
151Australia & NZ
ASIC Seeks Penalties from Westpac Over Credit Insurance Sales
ASIC says Westpac debited premiums for consumer credit insurance from customers who did not agree to purchase the products.
April 13, 2021 -
348Australia & NZ
APRA Approves Westpac Plan to Strengthen Risk Governance
The integrated plan outlines a comprehensive program of work to enhance Westpac’s risk culture and risk governance.
April 8, 2021 -
211Australia & NZ
RBNZ Orders Westpac NZ to Address Risk Governance Issues
Westpac’s New Zealand unit breached the RBNZ's liquidity policy by incorrectly calculating mismatch ratios.
March 25, 2021 -
259Australia & NZCBA, ANZ to Settle 2016 Lawsuit Involving BBSW Manipulation
The case was initially launched by two US hedge funds and a US-based derivatives trader, alleging they suffered losses due to bank manipulation of the BBSW.
March 23, 2021 -
318AML / KYCAUSTRAC Questioned on Handling of Drug Money Case
AUSTRAC reportedly said it has not taken action against the banks involved because they did not have reason to be suspicious of the transactions and they aided the investigation.
March 22, 2021
