APRA (Australian Prudential Regulation Authority) has just released the report of its inquiry into the Commonwealth, finding that a failure of culture is behind a series of scandals which have eroded trust in Australia’s biggest bank. The regulator calls the bank’s culture “insular” and an environment where learning from experiences…
The Commonwealth Bank is facing another scandal as the Australian Transactions Reports and Analysis Centre (AUSTRAC) launches civil proceedings accusing the bank of being complicit in money laundering. This exposes a deeply worrying prospect, that the Australian public are vulnerable to crime and terrorism directly funded through the Australian banking…
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