Category: Pacific Region

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

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.

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

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.

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

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.