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Bendigo and Adelaide Bank Hit with AUD 50 Million AUSTRAC Capital Penalty Over Major AML Control Failures
Bendigo and Adelaide Bank has been handed a AUD 50 million capital add-on by Australian regulators after serious deficiencies were uncovered in its financial crime and anti-money laundering controls. The penalty, imposed jointly by the Australian Prudential Regulation Authority (APRA) and the Australian Transaction Reports and Analysis Centre (AUSTRAC), follows the discovery of long-standing weaknesses that left the regional lender exposed to illicit financial activity for
13 hours ago4 min read
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