There is a growing trend to import another Americanism into the Canadian anti-money laundering strategy: a whistleblower incentive program that would amount to bounty hunting for violations.
Some 10,000 people are likely to give up their US passport this year, way above average. Are they fleeing COVID-19? Nasty politics? Taxes? None of the above, says an expert on American citizenship.
Shareholder activism involves directly engaging with directors and executives of companies to effect change.
www.shutterstock.com
We want to to believe in the power of shareholder activism, but reality is another thing.
The trouble with looking for transactions ‘consistent’ with ‘known’ patterns ‘indicative’ of child exploitation payments to countries with ‘known’ risks is that countless legitimate payments exhibit similar features.
www.shutterstock.com
Anti-money laundering rules give the comfort of doing something, but prevent surprisingly little crime.
Westpac chief executive Brian Hartzer and chairman Lindsay Maxsted. We could expect more of such folk but it might be more constructive to look for ways to help them do their jobs better.
Richard Wainwright/AAP
Board directors of our biggest companies simply aren’t equipped to take on management. An idea floated 50 years ago could help.
Westpac chief executive Brian Hartzer will step down with $2.68 million. Had he stayed on he could have received share rights worth $20 million.
RICHARD WAINWRIGHT/AAP
Westpac’s decision to shut down its LitePay money transfer system will hurt people relying on remittances throughout the Pacific region.
Westpac is “deeply sorry” and has pledged to spend $18 million over three years tackling the online sexual exploitation of children in the Philippines.
Shutterstock
Anti-money laundering efforts are based on measuring activity, not results. To cut crime and terrorism, we need a frank conversation about where the system has gone wrong.
Customers will be likely to feel the effects of the huge fine.
AAP Image/Dean Lewins
The Commonwealth Bank has agreed to pay a $700 million fine over its inadvertent failure to tackle money-laundering. But the penalty is in line with punishments for far more serious violations by other banks.
U.S. President Donald Trump has taught the world many lessons since his time in office – mostly on how not to govern.
(AP Photo/Carolyn Kaster)
Love him or hate him, Donald Trump has shown us a great deal in his short time on the political stage. For that, we should be grateful. Here are the lessons taught by Prof. Trump.
The Australian Transactions Reports and Analysis Centre (AUSTRAC) has launched civil proceedings accusing the CBA of being complicit in money laundering.
Dan Peled/AAP