Lowe Calls for ‘Accountabilty’ Amid Money-Laundering Scandal
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Source: BFW (Bloomberg First Word)
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(Bloomberg) -- Reserve Bank of Australia Governor Philip Lowe speaks to the House Economics Committee in Melbourne.
- While declining to comment directly on the allegations against Commonwealth Bank of Australia, Lowe tells committee that anti- money laundering laws are important.
- There “needs to be accountability through the courts and internally through the organization”
- Lowe notes that trust on the banking sector has been strained, and that for too long the focus has been on sales and not on service
- Related Story: Narev Grilled Over Money Laundering as Record Profit Ignored
Alert: HALISTER1
Source: BFW (Bloomberg First Word)
Tickers
CBA AU (Commonwealth Bank of Australia)
40005Z AU (Reserve Bank of Australia)
People
Dr Philip Lowe (Reserve Bank of Australia)
To de-activate this alert, click here
To modify this alert, click here
UUID: 7947283