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$700 fine for Commonwealth Bank

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CBD workers walk past the a Commonwealth Bank of Australia branch in Sydney, Monday, June 4, 2018. The CBA has a reached a $700 million dollar settlement
The CBA has a reached a $700 million dollar settlement Source: AAP

Commonwealth Bank of Australia chief executive Matt Comyn [[KOM-in]] says the bank's acceptance of a record 700-million dollar fine over its anti-money laundering and counter-terrorism case is an acknowledgement of the bank's failures. The bank has admitted to the 53-thousand-506 breaches it's been accused of by the regulator AUSTRAC. Dina Gerolymou and Themis Kallos discuss the story.

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By Dina Gerolymou

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Commonwealth Bank of Australia chief executive Matt Comyn [[KOM-in]] says the bank's acceptance of a record 700-million dollar fine over its anti-money laundering and counter-terrorism case is an acknowledgement of the bank's failures. The bank has admitted to the 53-thousand-506 breaches it's been accused of by the regulator AUSTRAC. Dina Gerolymou and Themis Kallos discuss the story.

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