![]() Macquarie is also a founding member of the Fintel Alliance, the public-private partnership sponsored by AUSTRAC bringing together intelligence and enforcement agencies and industry in the fight against financial crime."Ī spokeswoman for AUSTRAC said it is aware of reporting by ICIJ but did not comment on operational matters or provide specific information regarding suspicious matter reports. "This includes comprehensive self-reporting of transactions to relevant regulators. "We recognise that we play a critical role in protecting our customers and the community from the risks associated with money laundering and terrorism financing."Ī spokeswoman for Macquarie said: "While it is unlawful to comment on the specifics of suspicious activity reporting, as a global financial institution, Macquarie is committed to helping prevent the use of the financial system to facilitate illegal activity and has invested in systems and people to detect, prevent and report any activity of a suspicious nature, working closely with government agencies around the world. The cache also shows a large number of potentially structured transactions sent from Barclay's Hong Kong arm to CBA in 2016 and from UK bank NatWest's arm in the tax haven of Gibraltar. Payments from Deustche Bank's Czech arm to CBA totalling over $US40 million were also flagged by BNY. The New York bank also flagged a $US41,180 payment that a CBA account holder received from Latvian bank BlueOrange (named in the data under its former trading name Baltikums Bank). BNY flagged seven payments totalling $US90,000 to CBA account holders from the Primorye Bank, located in the far eastern Russian city of Vladivostok, near the border with North Korea.īNY also flagged eight payments totalling $US77,800 to CBA accounts from the Kazakhstan Bank CenterCredit. The CBA payments detail the global reach of Australia's largest bank. Macquarie has faced no court action from AUSTRAC and a senior executive with the bank, Greg Ward, said in 2019 that it had no outstanding matters with the local money-laundering regulator. ![]() It is not clear whether the transactions included in the ICIJ report formed part of the financial intelligence agency's case. Anti-money laundering laws dictate that any payment over $10,000 must be reported to authorities as potentially suspicious as well as transactions that are indicative of potential crimes, such as an account making several smaller payments to avoid the $10,000 detection threshold.ĬBA settled a massive civil case brought by AUSTRAC over the bank's failure to report suspicious transactions for $700 million in 2018. It is not clear whether the Australian banks reported the transactions to the local money laundering regulator AUSTRAC. ![]() The three banks at the centre of the " FinCEN Files" leak: Bank of New York Mellon (BNY), Barclays and Standard Charted, all filed the reports with anti-money laundering authorities in the US as part of their reporting requirements.īanks around the world are required to report suspicious transactions to anti-money laundering regulators to stamp out dirty money dealings, including the funding of terrorism and organised crime activities, such as drug dealing and tax evasion.
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