Tuesday , August 22 2017

Banking

Money-laundering scandal hurts all banks, says lobby chief Bligh

epa06123757 People walk by a Commonwealth Bank (CBA) branch in Brisbane, Queensland, Australia, 03 August 2017 (issued 04 August 2017). The Commonwealth Bank has been accused of a systemic failure to comply with anti-money laundering and counter-terrorism financing laws. The federal government's financial intelligence unit Australian Transaction Reports and Analysis Centre (AUSTRAC) on 03 August, launched civil penalty proceedings in the Federal Court, accusing the lender of more than 53,700 contraventions of law.  EPA/DAN PELED  AUSTRALIA AND NEW ZEALAND OUT

Bloomberg The Commonwealth Bank of Australia money-laundering scandal has damaged public’s perception of the whole banking sector, according to the head of the industry’s lobby group. “The issue that Australian banks are suffering with is community trust and public reputation,” Australian Bankers’ Association Chief Executive Officer Anna Bligh said in ...

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