Powered by MOMENTUM MEDIA
subscribe to our newsletter

NAB recruits former AUSTRAC chief

The big four bank has hired the former boss of AUSTRAC as the regulator has launched an investigation against NAB for potential anti-money laundering breaches.

NAB has appointed Paul Jevtovic to the role of executive money laundering and reporting officer, a spokesperson for the bank confirmed to Mortgage Business.

Mr Jevtovic will join the bank in September, following four years of holding senior financial crime monitoring roles at HSBC.

Currently, Mr Jevtovic is Asia Pacific head of financial crime and regional money laundering reporting officer at the bank, working out of Hong Kong. He previously was HSBC’s head of financial crime threat mitigation for the Asia Pacific region.

Mr Jevtovic was chief executive of AUSTRAC between 2014 to 2017, following a stint as acting CEO of the Australian Crime Commission.

Advertisement
Advertisement

He has also been deputy director for the Office of Police Integrity, Department of Justice in Victoria and assistant commissioner for the Australian Federal Police.

At the same time, AUSTRAC has referred NAB to its enforcement team, having commenced a formal investigation into concerns with the bank’s compliance with anti-money laundering laws.

The regulator is yet to make any decision on whether it will pursue enforcement action, but it has leaned away from chasing civil penalty proceedings. But this could change, AUSTRAC has warned.

[Related: AFCA recruits from ASIC, Westpac]

NAB recruits former AUSTRAC chief
Paul Jevtovic

PROMOTED CONTENT


>NAB has appointed Paul Jevtovic to the role of executive money laundering and reporting officer, a spokesperson for the bank confirmed to Mortgage Business.

Mr Jevtovic will join the bank in September, following four years of holding senior financial crime monitoring roles at HSBC.

Currently, Mr Jevtovic is Asia Pacific head of financial crime and regional money laundering reporting officer at the bank, working out of Hong Kong. He previously was HSBC’s head of financial crime threat mitigation for the Asia Pacific region.

Mr Jevtovic was chief executive of AUSTRAC between 2014 to 2017, following a stint as acting CEO of the Australian Crime Commission.

He has also been deputy director for the Office of Police Integrity, Department of Justice in Victoria and assistant commissioner for the Australian Federal Police.

At the same time, AUSTRAC has referred NAB to its enforcement team, having commenced a formal investigation into concerns with the bank’s compliance with anti-money laundering laws.

The regulator is yet to make any decision on whether it will pursue enforcement action, but it has leaned away from chasing civil penalty proceedings. But this could change, AUSTRAC has warned.

[Related: AFCA recruits from ASIC, Westpac]

NAB recruits former AUSTRAC chief
Paul Jevtovic
mortgagebusiness

If you’re feeling overworked and overwhelmed in this fast-paced mortgage market, it’s time to make some changes, and the Business Accelerator Program can help! Early bird tickets are on sale now. Work smarter, not harder, this year.

Sarah Simpkins

Sarah Simpkins is the news editor across Mortgage Business and The Adviser. 

Previously, she reported on banking, financial services and wealth for InvestorDaily and ifa.

You can contact her on This email address is being protected from spambots. You need JavaScript enabled to view it..

Latest News

The prudential regulator has written to ADIs to ensure that they are proactively managing lending risks and focusing on lending standards am...

As it waits for APRA to approve its acquisition of MyLife MyFinance, Challenger has flagged plans to expand the bank’s lending remit to co...

Australia has the second-highest mortgage debt as a proportion of GDP among OECD nations, according to a new report. ...

How long do you think it should take to discharge a mortgage?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.