Business
ASIC won’t take action against CBA over money laundering scandal – Sydney Morning Herald
The watchdog has told CBA it will not take action against the lender or its directors over a money laundering scandal from 2017.
The news removes one potential risk facing the bank and comes as it fends off a class action launched on behalf of investors over the money laundering compliance scandal.
CBA was thrown into turmoil by the 2017 money laundering lawsuit from the financial intelligence agency AUSTRAC, which said millions of dollars had been laundered through the bank’s ATMs by criminals, including drug and firearms importers.
The bank ultimately settled the case for a record $700 million penalty, after it admitt…
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