05 Mar 2019
Australia’s corporate regulator is interviewing top executives at the Commonwealth Bank of Australia as part of an investigation into alleged failure to prevent possible money laundering, the Australian Financial Review (AFR) reported on Tuesday.
CBA in 2018 agreed to a civil penalty of A$700 million ($496.23 million) to settle charges bought by Australia’s financial intelligence agency.
CBA admitted in part to failing to identify, monitor and report money transfers over A$10,000 ($7,566), in contravention of anti-money laundering and counter-terrorism laws.
By Colin Packham, Reuters, 4 March 2019
Link to Reuters
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