AUSTRAC

Superannuation

AUSTRAC suggests fraud-monitoring role for super funds

New AUSTRAC industry specific guidance to the superannuation industry has suggested super funds can play a role in detecting and monitoring corrupt payments to government...

Policy & Regulation

AUSTRAC fine sees CBA profit decline

The $700 million AUSTRAC fine has acted as a genuine drag on the Commonwealth Bank’s profit, which was down four per cent to $9,375 million....

Financial planning

VOFF accuses ASIC of uneven pursuit of justice

Victims of Financial Fraud has accused the Australian Securities and Investments Commission of failing to investigate some financial crimes and then being uneven in its p...

Policy & Regulation

CBA agrees to resolve AUSTRAC proceedings

The Commonwealth Bank of Australia has entered an agreement with AUSTRAC to resolve proceedings commenced in August last year, subject to Federal Court approval. ...

Policy & Regulation

Independent Reserve becomes regulated digital currency

Independent Reserve has become the first Australian digital currency exchange to be regulated by the Australian Transaction Reports and Analysis Centre under new regulati...

Financial planning

Cryptocurrency owners must be aware of tax changes

New cryptocurrency rules introduced today will see exchanges of the asset reported to AUSTRAC, making transactions more accessible to the Australian Taxation Office....

Policy & Regulation

Orders made in ongoing CBA v AUSTRAC matter

The Federal Court has made orders at the request of both the Commonwealth Bank and AUSTRAC, including a referral to mediation, in the ongoing civil penalty proceedings be...

Financial planning

Wealth helps drive strong CBA result

A strong performance by its Wealth Division has helped the Commonwealth Bank record another increased half-year profit despite provisioning of more than $500 million for ...

Policy & Regulation

AUSTRAC expands penalty case against CBA

AUSTRAC has detailed a further 100 alleged contraventions against the Commonwealth Bank with regards to money laundering....

Policy & Regulation

CBA responds to breach of money laundering laws

The Commonwealth Bank of Australia has admitted to a major breach of Australian money laundering regulations in the wake of AUSTRAC’s investigation....