An Australian Senate inquiry into foreign bribery will look at money-laundering allegations against the family of Abdul Taib Mahmud, the current Governor and former Chief Minister of the Malaysian state of Sarawak. Read More
A former manager of Australian banknote company Securency walked free from court on Thursday, after being sentenced to 30 months’ jail for bribing an official at Nigeria’s mint. Peter Chapman, Securency’s former manager of African business, had paid the bribes while under “considerable pressure” from his superiors at Securency… Read More
The review of the Anti-Money Laundering and Counter Terrorism Financing Act advocates making the Act simpler and more principles-based, and the AML/CTF Rules rationalised and more user-friendly. Read More
The Australian Financial Markets Association (AFMA) plans to sever its three-decade relationship with the bank bill swap rate (BBSW) amid ongoing rigging allegations and an increasingly complex benchmark setting process. Read More
The Australian Securities & Investments Commission is formally investigating dairy processing giant Murray Goulburn over its corporate disclosure practices after its shock downgrades to profits and its farmgate milk price led to the sudden resignation of chief executive Gary Helou. Read More
Systemic criminal activity in the finance, insurance and real estate sectors has placed the livelihoods of consumers at risk, while authorities are aware but do nothing to stop it, a report from financial thinktank, LF Economics, says. Read More
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