Money Laundering and Human Rights: What’s the connection and why should we care?
People generally don’t draw the link between money laundering and human rights, so it’s understandable that many may ask, why should I care about this? However, the link becomes clear when people understand that some of the worst criminal activity — often involving the exploitation of children — underpins the practice of money laundering. With […]
Non-compliance is at the heart of the Westpac scandal
Safetrac’s CEO, Deborah Coram, advises in a recent article in The Age, Sydney Morning Herald and other Macquarie Media publications as to the importance of compliance in relation to brand and reputation. The recent Westpac scandal has revealed the importance of compliance and its impact on brand and culture; something that we at Safetrac have spoken about since […]
Looking After Your Workplace: Common Examples Of Breaches In OHS Practices In The Workplace
To determine the most common breaches of occupational health and safety (OHS) practices – you only have to look at the most common causes of injury in Australian workplaces every year. Examples of common workplace injury causes: Body Stressing (Overexertion). The leading cause of workplace injury in Australia. It includes repetitive strain injuries and injuries incurred from lifting […]
Anti-Money Laundering Legislation: Is Your Business Compliant?
The International Monetary Fund was quoted as saying that between two and five per cent of the world’s economy is made up of laundered money. It is now thought to be more than one and a half trillion dollars a year; four and a half billion of which is laundered in Australia alone. That’s a […]
HSBC AML failures
HSBC made history this week by agreeing to pay a record $1.92 billion in settlement for failing to enforce rules designed to prevent the proceeds of criminal activity finding its way into the financial system. While the huge sum of money ensured sensational news headlines, the Deferred Prosecution Agreement signed by HSBC offers valuable information […]