Commonwealth Bank settles AUSTRAC case for $700m

Commonwealth Bank has settled its proceedings with AUSTRAC over anti-money laundering allegations for $700 million.

by | 4 Jun, 2018

Commonwealth Bank settles AUSTRAC case for $700m

AUSTRAC took CBA to court in August 2017 over claims its intelligent deposit machines (IDMs) had been exploited by criminals and terrorists.

Read the full article at the Australian Financial Review.

More from Public Accountant

7 common myths about modern money

7 common myths about modern money

Fixing Australia’s housing crisis from the ground up

Fixing Australia’s housing crisis from the ground up

Healthier employees make better workplaces

Healthier employees make better workplaces

The ‘scamdemic’ impacting everyone

The ‘scamdemic’ impacting everyone

Disinformation in 2024 was rife, and it’s likely to bring more risks in 2025

Disinformation in 2024 was rife, and it’s likely to bring more risks in 2025

The good, the bad, and the uncertain of Australia’s economic outlook

The good, the bad, and the uncertain of Australia’s economic outlook

Share This