Macquarie called in by AUSTRAC

Via The Australian:

Macquarie Group is locked in talks with Austrac to resolve “an issue” with its financial reports, joining National Australia Bank and Westpac in having to address problems with the anti-money-laundering and terrorism financing regulator.

A cache of submissions to the royal commission into financial sector misconduct released late yesterday also revealed AMP had failed to comply with the AML/CTF legislation requiring reporting of large cash deposits to AMP Bank made through the Australia Post network.

HSBC, Citi, RaboBank and Suncorp were also among banks to confess dealings with Austrac, although some related to know-your-client rules about customer data.

Call APRA and the RBA to prevent any action.


  1. CaptainFeatherSwordsGhost

    Wayne Byers is on to it…….as soon as he’s finished snorting a suspiciously long line of white powder of the dead carcass of the Australian economy.

  2. A friend on the inside says Maq is way, way ahead on compliance compared to the others.
    If they’re right, they should be fine.

      • Just kidding. The new CEO is a woman of Sri Lankan origin. The story goes that as soon as a woman is appointed head honcho there is trouble close behind i.e. the prior incumbent knows for sure bad news is heading down the pike, resigns and they appoint a fall-guy (or girl).