AUSTRAC, the federal government's financial intelligence unit, has updated its statement of claim against Commonwealth Bank with another 100 alleged contraventions of anti-money laundering and counter-terrorism financing law - taking the total to more than 53,800.
PERTH MONEY LAUNDERING
Two new instances of failing to provide ongoing customer due diligence and two instances of failing to report suspicious matters relating to a money laundering syndicate operating out of Perth.
SYDNEY MONEY LAUNDERING
86 new instances of failing to provide ongoing customer due diligence or to report suspicious matters relating to a syndicate operating out of Sydney alleged to be laundering funds for a drug and firearms distribution syndicate.
TERRORISM FINANCING
Four new instances of failing to provide ongoing customer due diligence or to report suspicious matters relating to customers connected to suspected terrorism financing.
INTELLIGENT DEPOSIT MACHINES
Six instances of failing to follow its own procedures to identify, mitigate and manage risk of intelligent deposit machines being used for money laundering or terrorism financing.
