Westpac Group (ASX:WBC) see the start of civil proceedings by AUSTRAC - Sequoia Direct Pty Ltd

20NovNovember 20, 2019

Westpac Group (ASX:WBC) see the start of civil proceedings by AUSTRAC

Westpac Group (ASX:WBC) has this morning received a statement of claim from AUSTRAC, starting civil proceedings in relation to alleged contraventions of Westpac’s obligations under the AntiMoney Laundering and Counter-Terrorism Financing Act.

Westpac has previously disclosed that it had selfreported a failure to report a large number of international funds transfer instructions (IFTIs) to AUSTRAC and that AUSTRAC was also investigating a number of other areas relating to Westpac’s processes, procedures and oversight.

Westpac is currently reviewing AUSTRAC’s statement of claim and will issue a further statement to the ASX once it has been assessed.

Shares in Westpac Group (ASX:WBC) are trading 2.03 per cent lowe at $26.01.

Copyright 2019 – Finance News Network

Source: Finance News Network

Related Posts

21JanJanuary 21, 2021

Santos (ASX:STO) annual production 18% above prior year

21 Jan 2021 - Santos (ASX:STO) has recorded annual production of 89 million barrels of oil equivalent for their fourth quarter, 18 per cent above the prior year and at the top end of upgraded guidance provided in December.

16SepSeptember 16, 2020

Kogan.com (ASX:KGN) report the largest customer increase for August

16 Sep 2020 - Kogan.com (ASX:KGN) reports the largest monthly increase for August in the history of the company.

19DecDecember 19, 2019

Service Stream (ASX:SSM) wins Sydney Water Contract

19 Dec 2019 - Service Stream (ASX:SSM) subsidiary Comdain, has been awarded a ten-year agreement by Sydney Water.

09SepSeptember 9, 2019

Bathurst Resources show NPAT rise to $45 million from last year’s $5.5 million

10 Sep 2019 - Bathurst Resources (ASX:BRL) released their financial year 2019 results showing NPAT up at $45 million compared to $5.5 million in the prior corresponding period.

30AugAugust 30, 2019

Harvey Norman Holdings offshore revenue over $2 billion

30 Aug 2019 - Harvey Norman Holdings (ASX:HVN) has seen record offshore retail sales revenue of $2 billion.

12AprApril 12, 2021

Summerset Group (ASX:SNZ) reports record Q1 results

12 Apr 2021 - Retirement village operator Summerset Group (ASX:SNZ) reports 275 sales for the quarter ending 31 March 2021. This comprises of 148 new sales and 127 resales.

07AprApril 7, 2021

Cleanaway (ASX:CWY) accused of having unfair advantages with Suez

07 Apr 2021 - Australian waste management company Cleanaway (ASX:CWY) has been accused, by its French competitor Veolia (EPA:VIE), of having unfair advantages in purchasing Suez’s recycling and recovery assets in Australia.

28AprApril 28, 2020

National Australia Bank (ASX:NAB) completes $3 billion institutional placement

28 Apr 2020 - National Australia Bank (ASX:NAB) has today successfully completed $3 billion fully underwritten institutional placement that was announced yesterday.

03JanJanuary 3, 2020

Whitehaven Coal (ASX:WHC) expands interest in Narrabri Mine

03 Jan 2020 - Whitehaven Coal (ASX:WHC) has completed the acquisition of EDF Trading Australia, which owns a 7.5 per cent interest in the Narrabri underground mine.

15FebFebruary 15, 2021

Cann Group to acquire Satipharm from Harvest One Cannabis

15 Feb 2021 - Medicinal cannabis producer Cann Group (ASX:CAN) has sealed a deal to acquire Satipharm from Canadian-domiciled Harvest One Cannabis (CVE:HVT).