What Philip Crawford told the NSW Upper House on Friday about CTFE failing probity checks if they got more than 10% of Star is dynamite to the Australian corporate world. How did Star have so few compliance folk, controls folk and governance folk that they missed CTFE?
CTFE luckily only has 3% but for Australian corporate world it is catastrophic.
AUSTRAC and ASIC might move on from Star to other tastier morsels to kill.AUSTRAC might make greater moves and kill off the likes of Westpac, CBA, ANZ, EML, Tyro, insurance companies, funds, clubs and others.
If they get blooded on Star, they might in the least break these large companies up for all their money laundering and compliance troubles.
Scary being a shareholder, superannuation recipient, Board Director or executive down in Australia right now. perhaps they should hire more people to look into these probity and compliance problems?
What Philip Crawford told the NSW Upper House on Friday about...
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