May 15, 2020 / 4:06 AM / 10 days ago

BRIEF-Westpac Files Defence To AUSTRAC Federal Court Proceedings

May 15 (Reuters) - Westpac Banking Corp:

* FILES DEFENCE TO AUSTRAC FEDERAL COURT PROCEEDINGS

* WESTPAC AND AUSTRAC CONTINUE TO ENGAGE CONSTRUCTIVELY & ARE DISCUSSING A STATEMENT OF AGREED FACTS & ADMISSIONS

* ACCEPTS GRAVITY OF ISSUES RAISED BY AUSTRAC CLAIM & MADE LARGE NUMBER OF ADMISSIONS IN RESPONSE TO STATEMENT OF CLAIM

* FILED DEFENCE IN RELATION TO ALLEGED CONTRAVENTIONS OF OBLIGATIONS UNDER ANTI-MONEY LAUNDERING & COUNTER-TERRORISM FINANCING ACT

* IN RESPONSE TO AUSTRAC STATEMENT OF CLAIM, CO ADMITTED TO NON-REPORTING OF IFTIS & ASSOCIATED TRACING INFORMATION FAILURES

* IN RESPONSE TO STATEMENT OF CLAIM, CO ADMITTED TO RECORD KEEPING FAILURES

* IN RESPONSE TO STATEMENT OF CLAIM, CO ADMITTED TO ONGOING CUSTOMER DUE DILIGENCE FAILURES

* IN RESPONSE TO STATEMENT OF CLAIM, CO ADMITTED TO FAILURES ON SOME CORRESPONDENT BANKING OBLIGATIONS Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below