ASX:BENBanks
Why Bendigo and Adelaide Bank (ASX:BEN) Is Down 6.3% After Regulator Flags Major Compliance Gaps
Earlier this week, Bendigo and Adelaide Bank announced it is under investigation by AUSTRAC after an independent Deloitte review uncovered significant deficiencies in its anti-money laundering and counter-terrorism financing controls across multiple branches over several years.
The bank’s board has committed to fully funding system enhancements and engaging with regulators to address these compliance issues, reflecting a substantial operational and reputational challenge for one of...