Business
CBA chief says no bank wants to facilitate ‘heinous crimes’ – Sydney Morning Herald
The big banks’ approach to anti-money laundering laws has once again come under the spotlight.
CBA has committed to boosting staff training for spotting money laundering and terrorism financing, yet the bank’s most recent annual report lists failure to comply with AML laws among its top three compliance risk exposures.
“Theres an enormous amount of effort thats going into making sure we comply with this critically important AML and CTF laws,” Mr Comyn said. “From our perspective, its been a very substantial investment over many years now responding to some of our identified shortcomings….
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