While CBA’s defence to a shareholder class action argues the bank did not need to disclose money laundering failures because it doubted AUSTRAC would take legal action, communications show it was drafting a defence six months before proceedings started, a trial has heard.
The Commonwealth Bank of Australia knew about a “catastrophic” code error that caused widespread non-compliance with money laundering rules two years before it was disclosed to the market, a court has been told in a rare shareholder class action trial.
A court has found National Australia Bank engaged in unconscionable conduct in knowingly overcharging thousands of customers periodic payment fees for four years.
A judge has questioned Nine’s eleventh-hour bid to add allegations of “serious criminal offences” against a barrister who sued the media company over its coverage of her custody battle for famed social media pooch Oscar the cavoodle.
Victoria’s gambling regulator has slapped Crown Resorts with $120 million in fines for falling short in its obligation to supervise problem gambling, in what the regulator called “extensive, sustained and systemic failures” spanning 12 years.
Medibank will not pay a ransom to a criminal who stole the data of 9.7 million customers, saying it would encourage extortion.
The applicants in a consumer class action against Allianz have been ordered to produce an insurance policy that covers them for the risk of losing the case, which the insurer says will inform its bid for security for costs.
The consumer regulator has taken Dell Australia to court for allegedly making misleading statements about the price of add-on monitors that could be purchased with Dell computers during the height of the COVID-19 pandemic.
The Commonwealth Bank of Australia faces trial Monday in one of several class actions filed against a major Australian company in recent years over allegedly lax money laundering practices and disclosures.
A judge has criticised the applicant in a class action against failed asset manager Blue Sky Alternative Investments for filing court documents late, as he prepares to grapple with an imminent competing class action.