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​Australian banks' compliance, suspicious transactions reporting sounds alarm for AML regulator

By Phoebe Seers ( November 2, 2017, 09:17 GMT | Insight) -- Australia's financial intelligence watchdog says it is concerned about the systems banks have in place to monitor and report suspicious transactions. The Australian Transaction Reports and Analysis Centre, which made those comments, has referred only 10 reports involving allegations of bribery or corruption for further investigation in the past 12 months. In comparison, it referred more than 200 reports of terrorist financing transactions in the same period.Australia's financial intelligence watchdog says it is concerned about the systems banks have in place to monitor and report suspicious transactions....

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