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Australian News

Australia’s energy policy creates ‘economic pain’ for ‘no environmental gain’ March 31, 2023 3:44 am The Geelong Advertiser Sky News host Chris Kenny says we are pursuing our “own economic pain” for no “environmental gain” as Australia’s energy self-harm continues. Mr Kenny’s comments come as the United Nations’ push to establish legal powers to penalise countries over their …
Clive Palmer hires Christian Porter as he gears up to sue Australia for $300 billion March 31, 2023 3:23 am SBS Key Points Clive Palmer is seeking $300 billion in damages over a stalled iron ore project through international arbitration. Former attorney-general Christian Porter is among Mr Palmer's team of lawyers. Assistant minister Patrick Gorman said the …

World News

Indore temple well collapse: Death toll rises to 35, search op still underway March 31, 2023 3:40 am Hindustan Times The death toll in the temple stepwell collapse incident in Madhya Pradesh's Indore has increased to 35, according to officials. Indore Collector Dr Ilayaraja T told news agency ANI that 35 people have died in the incident while 14 people have been …
BJP's Nitin Gadkari quitting politics? Here's what Modi's minister said March 31, 2023 3:40 am Hindustan Times Union minister Nitin Gadkari on Thursday dismissed media reports speculating his retirement from politics and called for responsible reporting on this matter. The Union minister of road transport and highways was interacting with the media on the progress …

Malaysian News

World Bank: Malaysia’s economic growth to moderate at 4.3pc this year March 31, 2023 3:45 am Malay Mail KUALA LUMPUR, March 31 ― Malaysia's economy is projected to grow at a more moderate pace of 4.3 per cent in 2023 supported by domestic demand amid an expected slowdown in external demand, while private consumption growth is forecast to remain robust, …
Malaysia’s top court refuses ex-PM Najib’s bid for review March 31, 2023 3:45 am Associated Press PUTRAJAYA, Malaysia (AP) — Malaysia’s top court refused Friday to review its 2022 decision to uphold former Prime Minister Najib Razak’s conviction for graft and 12-year jail sentence, saying he was “the author of his own misfortune.” A five-member Federal …

Business News

China stocks edge up in uneven trade ahead of key data March 31, 2023 3:48 am Business Recorder HONG KONG: China and Hong Kong stocks finished modestly higher in uneven trade on Thursday as investors pinned hopes on business-friendly policies following Alibaba’s restructuring while awaiting manufacturing activity data due this week. China’s blue-chip …
ASX Health Stocks: Patrys crashes after Phase 1 delayed till 2024, Nova Eye surges 20pc on FDA OK March 31, 2023 3:22 am Stockhead Patrys plunges 20pc after announcing a delay in Phase 1 trial Nova Eye surged 20pc after getting the green light from the FDA Allegra Orthopaedics submits its spinal cage device for FDA approval Therapeutic antibody development specialist Patrys (ASX:PXB …

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By June Ramli

Australia is currently the most vulnerable country in the developed world to the crime of money laundering. Alongside Haiti and Madagascar, Australia is one of the three countries worldwide that have not implemented Tranche 2, a tightening of anti-money laundering and counter terrorism financing laws that will regulate the law, accounting and real estate industries. With no regulatory framework or government support many Australian businesses don’t know how to best protect themselves and most importantly still don’t realise the risky nature of current processes. Our chat today is going to be with Auckland-based First AML founder and CEO Milan Cooper, whose global company offers a technology solution that helps businesses to protect themselves against crime now.

In this podcast, we discuss:

What is Tranche 2?

Why is Australia lagging behind the rest of the developed world?

Some money laundering scandals that have taken place in Australia and what could have been done to avoid it and much more.

Without further ado, listen to the full interview here.

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Podcast: First AML CEO Milan Cooper

March 11, 2023

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