Share prices bounced off at 16.70 and have been trading around 17.25 and 17.50 for the last two sessions. The latest avenue for money laundering is probably over- and under-invoicing of traded goods, but that’s even harder to track. Still, it’s clear that the agency is some way from being as aggressive as it should be. (Bloomberg Opinion) -- Why did it take media reporting to get Australia’s money laundering investigators to start looking into casino operator Crown Resorts Ltd.?Shares in the gambling company previously controlled by billionaire James Packer slumped 8.2% Monday after it said the country’s financial-crimes regulator Austrac had started a probe into the handling of “high risk and politically exposed” individuals at its Melbourne casino. Share prices bounced off at 16.70 and have been trading around 17.25 and 17.50 for the last two sessions. The AUD10.0 million Class G Notes are not rated by Moody's. Just a few: The transaction is a securitisation of loans to self-managed superfunds (SMSFs), small-to-medium enterprises (SMEs) and individuals, originated by Liberty Financial Pty Limited (Liberty, unrated). Last year’s media reports aren’t the first time that public accusations about money laundering breaches have been made against Crown. Share prices bounced off at 16.70 and have been trading around 17.25 and 17.50 for the last two sessions. westpac bank has been completely gutted buy the covid19 mania.... literally feels like 2002 out here ........... gonna catch a long on this soon but no indication of reversal yet. Just look back at the cases that Austrac has brought over the years. Not sure if we retest March lows, but at least another 5%-10% to go. © 2020 Verizon Media. Price target in 14 days: 20.439 AUD. Paul Jevtovic, a former police officer who took over at Austrac in 2014 before joining HSBC Plc’s compliance department in 2017, pushed the regulator toward a more proactive culture and kicked off the Tabcorp and the Commonwealth Bank investigations. it should take the XJO down with it. Get on it doggon it. 0. we could assume that was a dead cat bounce and Westpac is heading back sub $24. WBC - Price chart analysis WBC share prices had a reasonable pullback after a three -day rally. I think a break above 17.50 could see share prices head back up to 18.28 - 18.48, There are so many reasons to go long on WBC here. Independent legislator Andrew Wilkie in 2017 told parliament that casino staff exploited loopholes to avoid disclosing reportable transactions to Austrac (Crown denied the claims).Better funding and collaboration with other agencies would probably help. WBC pays huge dividends. 15.84 is an excellent spot to keep an eye for... wbc action continue incraesing .stay tuned. If you want to hunt rats, it’s no good hanging out in your kitchen. looking like a triangle setup All rights reserved. Extracting legal penalties from large companies is even more expensive.Meanwhile, criminals aren’t standing still. Probably it will take some time to recover. so i will say its gonna break All the latest Westpac Banking Corp (ASX: WBC) news, WBC share price movements, expert commentary and investing advice from The Motley Fool. Australia has beaten COVID-19. WBC - Price chart analysis WBC share prices had a reasonable pullback after a three -day rally. The current critical support and resistance... WBC with a bearish break down. The number of suspicious transactions reported to Austrac has more than tripled over the past five years, but funding from government and its own paid-for activities is only up by about a third. diminishing returns mofo. Westpac Banking Corporation (WBC.AX) ASX - ASX Delayed Price. the only way for banks like WBC to rise again Westpac Banking Co. (WBC.AX) (ASX:WBC) posted its quarterly earnings data on Monday, May, 7th. That means regulators need to be laser-focused on the activities of the companies that trade the largest volumes of those assets — casinos, in the case of notes and coins, and financial businesses, in the case of electronic transactions.“Until recently they were showing all the symptoms of a regulator who’d been captured by the industry they were supposed to regulate,” John Chevis, an independent anti-money laundering consultant, said by phone. Going down into the sewers may be a thankless task, but it’s the only way to get the job done.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.David Fickling is a Bloomberg Opinion columnist covering commodities, as well as industrial and consumer companies. Until recently, the majority of actions involved nickel-and-dime businesses like a pub in southern Brisbane or a cafe in western Sydney.That’s clearly not going to do the job. The long term spot price movement has a 98% fit to the mean when taken in log10; and the absolute majority of the price action remained within +/- 2 deviations from the mean. Please do your own research before entering into any trade. This... WBC - Price chart analysis The chart below shows how a company's share price and consensus price target have changed over time. For much of its 31-year history, Austrac has been a pretty somnolent organization, tending its ballooning database of suspicious transactions reported by compliance officers without carrying out much of the aggressive enforcement that you might expect. the only way WBC heads higher is if the RBA starts buying WBC shares. P.S: Please note these are my own notes for future reference and by no means trading advise to anyone.
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