AUSTRAC v Bell Financial Group
civil penalty26 Sept 2024Penalty $4.05M
Respondent
Bell Financial Group Limited
Facts
Bell Financial failed to conduct adequate enhanced customer due diligence on high-risk customers including those with PEP and adverse media flags.
Outcome
Federal Court imposed $4.05M penalty.
Read the source
https://austrac.gov.au/news-and-media/media-release/Rules Mate links to the regulator's own publication. We do not republish full decision text. Always verify the latest status against the source before acting.