Original article by James Frost
The Australian Financial Review – Page: 17 : 7-Jun-18

Documents submitted to the Federal Court show that the Commonwealth Bank’s flawed rollout of its intelligent ATMs accounted for $A180m of the $A700m fine that it received for breaching anti-money-laundering and terrorism financing laws. The bank was also fined $A170m for failing to undertake sufficient due diligence on customers who were subsequently found to have been drug traffickers or terrorists. Other penalties included a $A125m fine for failing to provide Austrac with more than 55,000 threshold transaction reports in a timely manner.

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA. ATTORNEY-GENERAL’S DEPT. AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE, FEDERAL COURT OF AUSTRALIA, AUSTRALIAN FEDERAL POLICE, WESTERN AUSTRALIAN POLICE SERVICE, NEW SOUTH WALES POLICE FORCE