ANZ confirms compliance with anti-money laundering regulation following report in AFR
ANZ today commented on a report in the Australian Financial Review which included details from a statement of claim made by the Australian financial intelligence agency AUSTRAC against Commonwealth Bank of Australia.
• ANZ has systems in place to ensure it complies with anti-money laundering obligations including processes to monitor and report suspicious activity. We are also subject to continuous supervision from AUSTRAC and have no outstanding requirements.
• ANZ also complies with its obligation to conduct thorough ‘know your customer’ checks and to report all overseas funds transfers to AUSTRAC. ANZ is not aware of any regulatory investigations into ANZ’s AML compliance in Australia or overseas.
• AUSTRAC reviewed ANZ’s ATMs and Intelligent Deposit Machines in late 2015 and advised ANZ in February 2017 that it found no evidence of non-compliance with antimoney laundering regulation.
• ANZ completed a thorough risk assessment prior to the introduction of Smart ATMs in 2013 which saw deposits limited to $5,000.
ANZ Chief Risk Officer Nigel Williams said: “We understand our role in keeping the Australian financial system safe. We have systems in place, including training for every staff member, to ensure we comply with our anti-money laundering and counter terrorism financing obligations.”
“We strongly support AUSTRAC’s role in disrupting serious financial crime and will continue to meet our obligations to monitor and report suspicious activity to AUSTRAC and the Australian Federal Police,” Mr Williams said.