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Round 2 ISX vs ASX, page-552

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Nebett

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17/08/20

17:01

Post #: 46599459
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Originally posted by retiredyoung: ↑

Don't forget CBA etc.

From 2017:
The Commonwealth Bank is facing new allegations that it allowed a convicted terrorist to clear cash out of a frozen bank account and ignored warnings from WA Police that a Vietnamese crime gang was using Perth branches to launder money.

Some of the alleged crimes happened after AUSTRAC, the agency which watches for illegal financial transactions, raised concerns with the bank about the way it checked for potential money laundering and terrorist financing.

https://thewest.com.au/news/australia/commonwealth-bank-faces-allegations-it-was-warned-by-wa-police-over-money-laundering-at-perth-branch-ng-b88691058z

“We have had people coming in and depositing about 5 times into account with $50 notes.. this is just short of $10,000.00 Then that night there is a transfer sent to china for just short of $50K. The person who is making the deposit would clearly know the process as sometimes they deposit into all different accounts until the ATM is full then leave,” the email said. “I believe that there should be other security measures in place as this is crazy.. if you review these people’s accounts they have sent millions and millions overseas!!”

https://www.michaelwest.com.au/do-not-stuff-up-this-institution-narev-told-the-inside-story-of-australias-biggest-money-laundering-scandal/

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I stand corrected. Thanks @retiredyoung

Oh and the bigger one everyone knows about.......W-E-S-T-P-A-C.....what happened to them with the AUSTRAC issues???

ISX Price at posting: $1.07 Sentiment: Hold Disclosure: Held
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Round 2 ISX vs ASX, page-552

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