The Latest FinCrime News from the Pacific region
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Bendigo Bank Faces AUD 50M AUSTRAC Penalty for Significant AML Deficiencies
Bendigo and Adelaide Bank faces a 50 million dollar penalty following the discovery of Bendigo Bank AML Oversight failures and systemic financial crime risk management gaps.
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AUSTRAC Blocks Raiyyan Exchange Money Transfer Renewal
AUSTRAC has blocked the registration renewal for Raiyyan Exchange due to serious, systemic deficiencies in its remittance money laundering and terrorism financing risk controls. The firm can no longer operate in Australia, an action underscoring the severe consequences for non-compliance with the AML/CTF Act and the risks associated with offsetting arrangements
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ASB Bank Faces $6.73M Penalty for AML/CFT Failures
The Reserve Bank of New Zealand has filed civil proceedings against ASB Bank for serious breaches of core Anti-Money Laundering and Countering Financing of Terrorism Act 2009 requirements, with the parties agreeing to jointly recommend a $6.73 million penalty.
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Kit Legal guides Tranche 2 sectors toward stronger AML preparedness
Kit Legal strengthens AML readiness for Tranche 2 organizations by providing structured support to non banking sectors preparing for new oversight obligations.
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AUSTRAC Fines Cryptolink as Crypto ATMs Emerge as Laundering Hubs
AUSTRAC’s enforcement against a crypto ATM operator exposes the money laundering risks of cash-to-crypto channels and the need for stronger AML oversight across Australia’s digital asset sector.
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Austrac’s upcoming AML regime overhaul and gatekeeper exposure
AUSTRAC's aml reforms bring gatekeeper professions under new AML/CTF obligations, closing loopholes and raising enforcement to combat money laundering risks across high-risk sectors.
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Fiji Draws a Line Against Money Laundering With Crypto Ban
Fiji has prohibited Virtual Asset Service Providers, citing money laundering risks linked to virtual assets and prioritizing financial security.
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AUSTRAC Investigation Unmasks Gambling Funded Gold Laundering
A gold laundering case in Australia shows how money laundering in the bullion sector intersects with gambling and highlights AUSTRAC compliance gaps.
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AUSTRAC Strikes at $83 Million Laundering from Illicit Tobacco
AUSTRAC's Operation Bolton case reveals how money laundering in illicit tobacco trade exceeds $83 million, using embedded financial intelligence to dismantle a syndicate’s cash network and front business structures.
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Revolut Hit With $187,800 Fine Over Late AML Reporting Failures
Revolut faced a late AML reporting fine after self-disclosing delayed transfer reports, showing why remittance compliance and AUSTRAC reporting obligations matter.
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$5.06 Million Penalty Shakes Christchurch Casino in DIA Compliance Crackdown
Christchurch Casino faces a $5.06 million AML penalty after a five-year compliance failure, highlighting risks and sector-wide consequences for AML controls in New Zealand.
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Poker Machine Giant Mounties Targeted by AUSTRAC for AML Gaps
AUSTRAC’s Federal Court action against Mounties exposes persistent AML compliance gaps and highlights the money laundering risks in Australia’s club sector.
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How AUSTRAC’s Enforceable Undertaking Shaped NAB’s AML/CFT Compliance
AUSTRAC’s closure of its enforceable undertaking with NAB highlights how AML compliance and sustained remediation are now central priorities for Australia’s banking sector.
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AUSTRAC’s Fintel Alliance Expansion Sets New Bar for AML Collaboration
Fintel Alliance expansion drives new AML standards across Australia, leveraging collaborative analytics and wider public-private partnerships to address sophisticated financial crime threats.
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AML Reform Proposals Promise a Smarter Approach to Financial Crime in New Zealand
Proposed AML reform in New Zealand targets financial crime through intelligence-driven measures and reduced compliance red tape, focusing on risk and business efficiency.
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AUSTRAC Sets 2026 as Milestone Year for AML/CTF Reform
AUSTRAC AML/CTF reforms bring new compliance standards and deadlines, pushing Australian businesses to prioritize money laundering risk management.
Other News From the Pacific Region
Bendigo Bank Faces AUD 50M AUSTRAC Penalty for Significant AML Deficiencies
Bendigo and Adelaide Bank faces a 50 million dollar penalty following the discovery of Bendigo Bank AML Oversight failures and systemic financial crime risk management gaps.
AUSTRAC Blocks Raiyyan Exchange Money Transfer Renewal
AUSTRAC has blocked the registration renewal for Raiyyan Exchange due to serious, systemic deficiencies in its remittance money laundering and terrorism financing risk controls. The firm can no longer operate in Australia, an action underscoring the severe consequences for non-compliance with the AML/CTF Act and the risks associated with offsetting arrangements
ASB Bank Faces $6.73M Penalty for AML/CFT Failures
The Reserve Bank of New Zealand has filed civil proceedings against ASB Bank for serious breaches of core Anti-Money Laundering and Countering Financing of Terrorism Act 2009 requirements, with the parties agreeing to jointly recommend a $6.73 million penalty.