HALISTER1: ANZ Had Asked AmBank to Boost Anti-Money Laundering Controls: FT

ANZ Had Asked AmBank to Boost Anti-Money Laundering Controls: FT

(Bloomberg) -- ANZ asked its Malaysian affiliate AmBank to strengthen anti-money laundering controls when breaches became public knowledge, FT reports, citing CEO Shayne Elliott.
  • Elliott says he wasn’t on the AmBank board at the time the alleged corrupt transactions took place; acknowledged there were clear breakdowns in compliance
  • Elliott says ANZ as a shareholder had written formally to AmBank and “lobbied or suggested they act quickly to change their processes”
  • AmBank didn’t immediately respond to a request for comment: FT
  • NOTE: Nov. 8, Malaysia Took Action Against Bankers Covering up for 1MDB: Edge
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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0206021D MK (1Malaysia Development Bhd)
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