AUSTRAC cost the country’s two largest banks $2 billion in the space of two years. Now,the feared regulator has its sights set on the National Australia Bank. So what is going on inside the banks?
There’s a crippling shortage of staff skilled in anti-money laundering compliance but foreigners with experience in this field are still unable to get permanent work in Australia.
The global payments provider has seen more than $800 million wiped off its value after the Irish financial regulator raised concerns about its European operations.