There is a lot of talk on whats going to happen when the AUSTRAC...

There is a lot of talk on whats going to happen when the AUSTRAC report is released and I dont believe anyone here can definitively say what will happen. But I would like to offer the following:

The CBA was facing total fines of around 950 billion dollars (53,000 breaches x $18 million) they negotiated a fine of $700 million or 0.0736% of total fine. The standrad has been set here, should we get a fine, why couldnt we talk it down to that percentage as well?

Tab Corp was facing total fines of around 2 billion dollars (110 x $18 million) they negotiated a fine of $45 million or 2.2% of total fine. They were the first and hit the hardest.

Unlike CBA which had 1 breach around the $627 million mark and Tab corp which had one around $131,000 and both knowingly disregarded the laws around Laundering and terrorism, I firmly believe the regulator will be a little more lenient with us for minor breaches as long as we can show that we have closed any holes. We may still get a fine but in the scheme of things I would be surprised if it would cause a hiccup to the share price. Should we cop a fine, I would be fighting for the same percentage fine of total as CBA got.

IMO, I could be wrong.

Pete