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State Street bank hit with million-dollar money laundering fine
State Street hit with AUSTRAC fine, infringement notice
The Australian Financial Review
Financial crime agency fines State Street
Austrac hits State Street with $1.2m fine over AML/CTF breach
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The Australian arm of US bank State Street is the latest financial institution to be fined for breaching anti-money laundering laws.The Australian arm of US bank State Street is the latest financial institution to be fined for breaching anti-money laundering laws.
US-owned bank State Street has been fined $1.2 million for failing to report international fund transfers, leaving it exposed to exploitation by criminals.US-owned bank State Street has been fined $1.2 million for failing to report international fund transfers, leaving it exposed to exploitation by criminals.
The US custodian bank said it has a remediation plan to address compliance issues.The US custodian bank said it has a remediation plan to address compliance issues.
Australian Financial Review
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