Financial Crime Financial Crime

Australia's NAB avoids fine after accepting undertakings to revamp its AML-CTF procedures

By James Panichi
  • 02 May 2022 08:24
  • 02 May 2022 08:24
National Australia Bank has avoided a fine over compliance failures in its anti-money laundering and counter-terrorism financing procedures, with Australia’s financial-crime watchdog announcing it was satisfied with the legally enforceable undertakings put forward by the bank.

In a statement published today (see here), the Australian Transaction Reports and Analysis Centre, or

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