Tag Archives: Commonwealth Bank

Australia’s Largest Bank Looks For New Boss Amid Money-Laundering Claims

Australia’s largest bank has confirmed that it is on the lookout for a new boss, weeks after it was accused of breaching money laundering and terrorism financing laws more than 53,000 times.

Commonwealth Bank Accused of Money Laundering and Terrorism-Financing Breaches

FOREIGN criminal syndicates including major drug traffickers were able to launder millions of dollars through Australia after the Commonwealth Bank allegedly failed to comply with strict money laundering and counter terrorism financing laws and monitor almost 780,000 accounts.