miragenews, 10 June 2021
The Finance Sector Union (FSU) is concerned about reports regarding the compliance failures at the NAB.
FSU National Secretary Julia Angrisano said the union has expressed its concerns to the NAB for many years, that the constant restructuring, casualisation, and setting of unrealistic targets has negative consequences for staff, the NAB, and the wider community.
“These concerns have now been borne out by media reports that show a workforce that is under great stress, trying to do the impossible with little resourcing and next to no training,” Ms Angrisano said.
She said that for anti- money laundering and compliance to be effective and well-resourced and are likely to fail if staff are not properly trained. Monitoring financial crime is not something that should be contracted out. Westpac was fined $1.3 billion and the CBA, $700 million. Now the NAB is under investigation and these kinds of money laundering scandals impact on the morale of staff.
Quotes attributable to FSU National Secretary Julia Angrisano:
“The Finance Sector Union has tried to convey to the NAB just how over-worked and stressed its workforce is.”