SYDNEY — The Australian government on Thursday accused the country’s biggest mortgage lender, Commonwealth Bank of Australia, of widespread breaches of money-laundering and counter-terrorism financing rules. Financial intelligence agency AUSTRAC said it had initiated civil penalty proceedings in the Federal Court against CommBank for “serious and systemic non-compliance,” in the biggest case of its kind...
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from Unclaimed Money Australia https://unclaimedmoneyaustralia.com.au/uncategorized/australias-commonwealth-bank-accused-massive-money-laundering-breaches/
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