Tag: #MoneyLaundering
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When the Audit Passes and the Problem Doesn’t: The Airwallex AUSTRAC Story
By Viktor Ha | April 2026 | AML-CAMS Blog Airwallex had already been audited. AUSTRAC looked at their program in 2024. An independent external reviewer followed up in 2025 and signed off — controls in place, systems adequate, no major concerns. Then, on 22 January 2026, AUSTRAC ordered another external audit. This time under section… Read more
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You Can Outsource the Work. You Can’t Outsource the Obligation.
AUSTRAC has filed its first-ever civil penalty proceedings against a registered licensed club. Not a casino. Not a bank. A community club in Sydney’s west with 1,400 poker machines and $4.17 billion in customer deposits over four years. Mount Pritchard District and Community Club — better known as Mounties — is one of the largest… Read more
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Swedbank’s Fresh AML Probe: What Happens When Remediation Doesn’t Stick
By Viktor Ha | February 2026 | AML-CAMS Blog A record SEK 4 billion fine. An internal investigation spanning 12 years. Remediation programs across four countries. A former CEO prosecuted. And on 20 February 2026 — just last week — Sweden’s Financial Supervisory Authority (Finansinspektionen, or FI) announced it will investigate whether Swedbank’s customer due… Read more
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Bendigo Bank’s $50M Capital Add-On: Analyzing the APRA & AUSTRAC Joint Enforcement
By Viktor Ha | February 2026 | AML-CAMS Blog When APRA and AUSTRAC jointly announced enforcement action against Bendigo and Adelaide Bank on 17 December 2025, the headline number was AUD 50 million — an operational risk capital add-on that landed effective 1 January 2026. But the number is not the story. The story is… Read more
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Deutsche Bank, Jeffrey Epstein, and the AML Failures That Led to a $150 Million Fine
In July 2020, New York regulators delivered a blunt message to one of the world’s biggest banks. Deutsche Bank AML failures had reached a point where enforcement was unavoidable. The New York State Department of Financial Services (NYDFS) imposed a $150 million civil penalty, citing years of weak controls tied most visibly to the bank’s… Read more
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The “Tranche 2” Revolution: Why Real Estate Agents and Lawyers Are the New Front Line in AML
For nearly two decades, the Australian anti-money laundering landscape has been dominated by one group: the banks. If you worked in a financial institution, you lived and breathed the AML/CTF Act 2006. If you were a lawyer, accountant, or real estate agent, you were largely on the outside looking in. That era is over. Come… Read more
