CBA breached money laundering, counter-terrorism laws more than 53,000 times

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Title : CBA breached money laundering, counter-terrorism laws more than 53,000 times
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CBA breached money laundering, counter-terrorism laws more than 53,000 times

The Commonwealth Bank (CBA) has admitted it breached Australia's anti-money laundering and counter-terrorism laws more than 53,000 times.

The breaches relate to the bank failing to report transactions above $10,000 to AUSTRAC — Australia's money laundering regulator.

But CBA says it will still defend more than 100 more serious allegations that it failed to report suspicious transactions.

More to come.

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