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AUSTRAC reveals most common reporting mistakes

AUSTRAC reveals most common reporting mistakes

by Starling Insights

Starling Insights Editorial Board

Observations

Jack Haldane, director of supervision for the Australian Transaction Reports and Analysis Centre (AUSTRAC), criticized banks in a recent panel for over-relying on consultants and experts to fulfill their reporting requirements, adding that many institutions fail to understand their own reporting programs because they are implemented solely by third parties.

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