I'm talking about the internal workings of the company not the...

I'm talking about the internal workings of the company not the reporting of and to who. Conspiracy debateable, negligent definitely. It doesn't matter if it was caused by a computer or a person. If you've ever worked with people you'll know that even the most competent people make mistakes(BIG) just like your software so to use that as an excuse is just BS. Computers are only as good as the people behind them and CBA have a whole IT dept to look after these issues. And if you wouldn't mind informing me why, out of the big 4, CBA is the only one that has their IDMs capped above the threshold of $10000 actually double that, and the other 3 are capped at $5000 or under which AUSTRAC deem as an acceptable way to minimise the risk of this sort of thing happening.
No banks are not an extension of the govt but they are backed buy the govt and have an ethical responsibility to stop criminal activity because they take so much money from us the people, society and that's what the majority want.
Then to top it off, CEO "retires" two weeks after this has come out. Ha yeh nothing to see here.
My final point, Negligence and arrogance has affected and will continue to affect the share holders of CBA in the near future hence why I cant see this being that much different. Bottom line is the shareholder. Now CBA has to spend 500mil min in fees and possible fines. Where's that money coming from? Yeh that's right the shareholder and the customer, not to mention the 14% drop in share price in the weeks after that the share holder had to wear as well. At the end of the day this has affected the shareholder and should be a matter for the ASX and ASIC. Different rules for different people. Good to see we live in a society where all things are equal.
I know this is off topic and I apologise in advance but intrigues me to see a start up company like BIG make a few errors of judgement and a possible disclosure issue and get punished so harshly when one of the biggest "publicly owned" companies in Australia is accused and has admitted it has breached anti terror laws and money laundering laws (shit people have done serious time for breaking these Laws), and is allowed to continue to operate.
Important to note- 24 hrs is 24 hrs and the law is the law no grey areas there which BIG is finding out the hard way, just a shame that one has to operate to the letter of the law and the other thinks its ok to make up excuses knowing that its way to big and important to be touched.