Posted inAustraliaOceaniaWorld

Biggest Australian bank agrees to pay record $700m fine

Australia’s biggest bank has been hit with a record fine after a money laundering scandal – failing to report over 50,000 suspicious transactions to the country’s financial regulator Austrac over a period of several years. The Commonwealth Bank agreed on Monday to pay $700 million (US$534 million) to settle a lawsuit after admitting it failed […]