HALISTER1: ASIC Investigating Commonwealth Bank Over Money Laundering Suit

ASIC Investigating Commonwealth Bank Over Money Laundering Suit

(Bloomberg) -- The Australian Securities & Investments Commission is investigating the Commonwealth Bank of Australia in response to alleged money laundering financing breaches, Chairman Greg Medcraft said Friday. ASIC is investigating:
  • Compliance with with disclosure obligations
  • Breach reporting
  • Whether directors weighed up the risks to the banks reputation
NOTE: Commonwealth Bank was sued Aug. 3 by Austrac over alleged breaches of money laundering and terrorism financing laws To contact the reporter on this story: Emily Cadman in Sydney at ecadman2@bloomberg.net To contact the editors responsible for this story: Marcus Wright at mwright115@bloomberg.net Peter Vercoe

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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CBA AU (Commonwealth Bank of Australia)

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Greg Medcraft (Australian Securities & Investments Commission)

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