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This Week In Penalties...21 June- 25 June

Friday 25 June 2021


 
The Federal Court the has rejected the application of the Australian Securities and Investments Commission (ASIC) of alleged breaches of the National Consumer Credit Protection Act 2009 by the Cigno and BHF. 

“ASIC took this case in order to protect vulnerable consumers from what we believed to be a harmful lending model,” said ASIC deputy ch...

By Kwame Slusher

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Podcast: Ethixbase On Modern Slavery Solution

Tuesday 22 June 2021




The GRC Professional Podcast speaks to Ethixbase about using technology to help mitigate modern slavery risk exposure.  

Click here to learn more about Ethixbase.  

By Kwame Slusher

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AML Amendments are in Force

Friday 18 June 2021

 

This week reforms in the Anti-money laundering and Counter Terrorism Financing Act 2006 (AML/CTF) came into force on 17 June. 

The Anti-Money Laundering and Counter-Terrorism Financing and Other Legislation Amendment Act 2020 makes changes around customer identification, tipping off, customer due diligence for those providing designate servic...

By Kwame Slusher

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This week In Penalties…15 June- 18 June

Friday 18 June 2021

 

Former director of Crane Trucks Farmouz Farhaad Mohammed ‘dishonestly withdrew’  from the company which at the time was placed in liquidation with a total liabilities of over $ 6 million owing to 198 creditors. 

The former director has also been disqualified form managing corporations until June 2026. 
 

 
The Court of Appeal has order...

By Kwame Slusher

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This Week in Penalties... June 7th-June 13th

Friday 11 June 2021



The securities regulator has brought three criminal charges against EC Auditor and its director Robert James Evett for breaching auditing standards relating  profit and loss statements and balance sheets for Halifax investments for the three financial years in a row—June 2016, June 2017, and the June 2018. 

The Australian Securities and Invest...

By Kwame Slusher

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Podcast: The Remote Working Edition

Wednesday 9 June 2021





The GRC Institute has reopened the discussion group managing compliance remotely!

To register click here. 

In the meantime, here are some GRC Professional Podcast episodes dealing with managing compliance remotely during the pandemic.   


By Kwame Slusher

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‘Cuckoo Smurfing’ Guidance

Friday 4 June 2021



Following the Royal Commission into the Crown Casino, the Australian Transaction Reports and Analysis Centre (AUSTRAC) has released guidance on typologies around ‘cuckoo smurfing’. 

 AUSTRAC CEO Nicole Rose said in an official statement earlier this week, “This method has been used by criminal syndicates involved in crimes that inflict serious...

By Kwame Slusher

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This Week in Penalties...

Friday 4 June 2021


 
Grant Donley has been disqualified from managing companies for two years after the failure of Conceptual Interiors NSW, Conceptual Interiors Group and Conceptual Interiors.

The Australian Securities and Investments Commission (ASIC) alleged that Donley:
  • allowed Conceptual Interiors NSW and Conceptual Interiors Group to trade while ins...

By Kwame Slusher

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Acquitted of Cartel Allegations

Friday 4 June 2021


 
Country Care Group, CEO Robert Hogan and former employee Cameron Harrison were acquitted of the eight criminal cartel offences earlier this week.

This comes after allegations of price fixing and bid rigging of ‘assistive technology products’.  According the to the Australian Competition and Consumer Commission (ACCC) these products are common...

By Kwame Slusher

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From the Archives: Eveline Estephan Talks Financial Crime

Friday 4 June 2021




Next week the GRC Professional Podcast will begin a multipart series focused on Modern Slavery. 

In the meantime, here is one from the archives:


The GRC Professional gets an opportunity to chat with Financial crime compliance Professional Eveline Estephan who ...

By Kwame Slusher

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