SYDNEY, Aug 3 (Reuters) - Australia's anti money-laundering regulator said on Thursday it launched civil legal proceedings against the Commonwealth Bank of Australia (CBA) for breaches of money-laundering and counter-terrorism financing rules.
The bank, Australia's biggest mortgage lender, failed to report suspicious matters "either on time or at all involving transactions totalling over A$77 million ($61 million)", the regulator, AUSTRAC, said in a statement.
Commonwealth Bank, in a statement on its website, said it was reviewing the nature of the proceedings and would have more to say on the specific claims "in due course". ($1 = 1.2617 Australian dollars)
News: Australia's money-laundering watchdog launches civil lawsuit against CBA
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$116.59 |
Change
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| Open | High | Low | Value | Volume |
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