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CBA says disclosing money laundering failures would have misled the market
Trials 2022-11-09 9:16 pm By Cindy Cameronne

The Commonwealth Bank of Australia has argued that disclosing its money laundering failures before AUSTRAC brought proceedings would have misled the market, as the bank […]

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Trial pokes holes in CBA’s claim of ‘cordial’ relationship with AUSTRAC
Trials 2022-11-08 10:04 pm By Cindy Cameronne

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 […]

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‘Law breaking on a grand scale:’ CBA’s money laundering failures on trial
Class Actions 2022-11-07 11:22 pm By Cindy Cameronne

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 […]

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Class action trial looms for CBA over money laundering disclosures
Class Actions 2022-11-03 11:59 pm By Cat Fredenburgh

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 […]

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AUSTRAC to probe Sportsbet, Bet365 over money laundering concerns
AUSTRAC 2022-11-03 11:00 pm By Christine Caulfield

Sportsbet and Bet365 face an audit by AUSTRAC over their compliance with anti-money laundering and counter-terrorism financing laws. The agency said Thursday it had ordered […]

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AUSTRAC investigates Perth Mint for financial crimes
White Collar 2022-08-30 9:35 pm By Cat Fredenburgh

AUSTRAC has appointed an external auditor to Perth Mint, Australia’s official bullion mint, to assess its compliance with anti-money laundering and counter-terrorism financing laws. The […]

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NAB avoids court, signs undertaking to resolve AUSTRAC compliance probe
AUSTRAC 2022-05-02 1:36 pm By Christine Caulfield

National Australia Bank has avoided enforcement action and entered into an undertaking with AUSTRAC to settle an investigation into compliance with anti-money laundering and counter-terrorism […]

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Bell Potter targeted in AUSTRAC probe over anti-money laundering compliance
Financial Services 2022-02-17 11:09 pm By Christine Caulfield

Financial crimes watchdog AUSTRAC is investigating whether three companies in the Bell Financial Group have contravened anti-money laundering and counter-terrorism financing rules. AUSTRAC said Thursday […]

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AUSTRAC widens probe into Star Entertainment as class actions loom
Gaming 2022-01-14 11:18 pm By Cat Fredenburgh

AUSTRAC has expanded into investigation into Star Entertainment’s compliance with anti-money laundering laws, two months after a third law firm announced a shareholder class action […]

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CBA can’t throw out ‘cuckoo-smurfing’ lawsuit
Financial Services 2021-11-10 12:28 pm By Miklos Bolza

The Commonwealth Bank of Australia has failed in its bid to dismiss a case brought by customers who claim they were the victims of “cuckoo-smurfing” […]

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