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The Westpac scandal: how did it happen?
By Charlotte Grieve, The Sydney Morning Herald Westpac is alleged to have breached anti-money laundering laws 23 million times. How does that happen? What are banks obliged to track nowadays?...
The biggest challenges giving the RegTech sector a headache right now
By RegTech Analyst From getting accurate data to responding to new regulatory challenges, there are plenty of opportunities and obstacles to overcome for RegTech innovators. The RegTech sector has come...
What do FinTech and RegTech stakeholders think about the new Australian senate committee investigating the industry?
By RegTech Analyst Last week the Australian senate announced it would launch a new select committee to ensure the FinTech and RegTech sectors keep growing and remain compliant. Now, industry...
Tech transition proves a tough act for banks
- By Supratim Adhikari Westpac chief executive Brian Hartzer’s carefully laid out plans to leverage new technology to cut costs and transform the bank’s processes now lie in tatters, as...
FATF caves as Australia keeps propping up property market with black money
by Nathan Lynch -- 20 November 2019 Welcome to the dark side of the Great Australian Dream, an investigation by Nathan Lynch. Australia is facetiously referred to as the Lucky Country for its ability to...
Concerns over use of spreadsheets to manage AML compliance
In a recent industry presentation to risk and compliance managers in Australia by regulatory software provider Arctic Intelligence, an audience poll revealed 54% of respondents listed reliance on spreadsheets for...
FMA NZ cracks down on non-compliant AML/CFT programmes
The Financial Markets Authority (FMA) has issued formal warnings to 10 reporting entities under Section 80 of the Anti-Money Laundering and Countering Financing of Terrorism Act (AML/CFT Act). The FMA...
FMA warns NZ companies they need to do more to comply with AML/CFT regulations
The Financial Markets Authority of New Zealand issued a stark warning for regulated entities in its recently published Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) 2018 Monitoring Report. Given...
Businesses need to assess money laundering risk more frequently
In a recent industry presentation to credit unions and mutual banks in Australia, by Arctic Intelligence, a provider of financial crime prevention audit, risk and compliance software, an audience poll...
Arctic Intelligence partners with Deloitte to adopt a smarter approach to financial crime compliance
Arctic Intelligence, a regtech leader in regulatory compliance and risk management has signed a three year partnership with Deloitte to help organisations globally manage their financial crime risk and exposure....
