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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| National Australia Bank Limited | ASX:NAB | Australian Stock Exchange | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.50 | -1.47% | 33.54 | 33.50 | 33.60 | 33.90 | 33.47 | 33.90 | 3,551,145 | 09:50:00 |
From Apr 2021 to Apr 2024
By Alice Uribe
SYDNEY--National Australia Bank Ltd. will undergo a formal review by Australia's financial intelligence regulator over concerns that it breached anti-money laundering and counter-terrorism financing rules.
The Australian bank said AUSTRAC, in a a June 4 letter, signaled "potential serious and ongoing non-compliance" with customer identification procedures, ongoing customer due diligence and compliance with part of NAB's anti-money laundering and counter-terrorism financing program.
These concerns have been referred to AUSTRAC's enforcement team, which has begun a formal investigation, NAB said.
Still, AUSTRAC said in the letter that it had not made a decision about whether enforcement action would be taken, and that it is not considering civil penalty proceedings given work undertaken by NAB to date.
Write to Alice Uribe at alice.uribe@wsj.com
(END) Dow Jones Newswires
June 06, 2021 19:09 ET (23:09 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
1 Year National Australia Bank Chart |
1 Month National Australia Bank Chart |
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