Articles with tag: westpac bank

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Westpac Bank to pay record fine over money laundering breaches

News | Digital Identity, Security & Online Fraud | 25 Sep 2020

Australia’s Westpac Bank has negotiated to pay a record USD 0.9 billion fine for the nation’s biggest breach of money laundering laws, according to BBC.

Westpac Bank, money laundering, financial crime, international transfers, due diligence, Australia

Trulioo recommends payment apps to improve security against COVID-19 fraud

News | Digital Identity, Security & Online Fraud | 24 Jul 2020

Trulioo has released an Anti-Money Laundering and Know Your Customer (KYC) report that tracks fraudulent activity during the pandemic.

Trulioo, Anti-Money Laundering, AML, Know Your Customer, KYC, report, fraudulent activity, COVID-19, cybercriminals, payment apps, online transactions, biometrics, account takeover, Westpac Banking Corporation, customer onboarding

Australian bank Westpac admits breaching money-laundering laws

News | Digital Identity, Security & Online Fraud | 19 May 2020

Westpac Banking has admitted to millions of breaches of anti-money laundering and counter-terrorism laws in a filing in Australia’s Federal Court.

money laundering, bank, Australia, Westpac Banking, counter terrorism, financing, risk analysis, regulation

Westpac Bank offers support amid COVID-19 for online banking

News | Online & Mobile Banking | 23 Mar 2020

Australia-based Westpac Bank has announced its support for customers and the community in the wake of the coronavirus (COVID-19) pandemic situation. 

Westpac, Australia, Westpac bank, financial aid, COVID-19, coronavirus, online banking, Commonwealth Bank, banking, digital banking

Australia banks confess to misconduct at APRA hearing

News | Payments General | 23 May 2018

During recent hearings at the Australian Prudential Regulation Authority, four banks have admitted involvement in fraudulent loans and double-charging interest.

Australian Prudential Regulation Authority, Australia, bank, Commonwealth Bank of Australia, National Australia Bank, Westpac Banking Corp, payments general

?Australia forces banks to open banking data by July 2019

News | Payments General | 10 May 2018

The Australian government has announced that Australia’s major banks will have to make customer banking data available to other service providers by 2019.

?Australia, banks, open banking, banking data, Australia and New Zealand Banking Group, Commonwealth Bank of Australia, Westpac Banking, National Australia Bank.