ANZ defensive over AML

ANZ "has found no material issues to date" following a "review of the systems and processes we use to transfer money to ensure we are reporting the information required by regulators," the bank said yesterday.

But it is vulnerable.

"The risk of non-compliance with anti-money laundering, counter-terrorism financing and sanction laws remains high given the scale and complexity of the Group and the lack of clarity around some mandatory reporting requirements," ANZ said in its 2019 annual reporting suite.

There was no similar language used by the bank in 2018.

ANZ yesterday said it "has been working with Austrac, law enforcement and the broader industry to detect, prevent and disrupt serious financial crimes."

And: "ANZ also confirmed it is not aware of any impending litigation from Austrac."