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Forget Commonwealth Bank’s $9.8b profit next week, Ian Narev will be explaining “cuckoo smurfing” – 4 August 2017
More details on the CBA money laundering scandal.
Austrac alleges CBA in ‘serious’ breach of money laundering act – 4 August 2017
Austrac has alleged that The Commonwealth Bank has breached money laundering laws after failing to report a number of large cash transactions made through intelligent money machines.
This included six instances where the bank believed customers were possibly financing terrorism.
AFP hunts Australian dark net users after sites taken down – 28 July 2017
The AFP has received a trove of information about anonymous users following the closure of two of the biggest dark net marketplaces. Anonymous users use sites similar to the now closed AlphaBay and Hansa to sell online banking details and steal money from the accounts. Other uses include the buying and selling of illicit substances and drugs, an activity that is on the rise in the Australian marketplace.
UK Watchdog to Require Banks to Publish Data on Service – 28 July 2017
The Financial Conduct Authority has proposed that banks in Britain will now have to publish data quarterly from next year onwards. The move seeks to show the quality of service and boost competition between Banks, and is based on measuring performance based on set criteria.
https://www.nytimes.com/reuters/2017/07/25/business/25reuters-britain-banks-regulator.html
