Australia's biggest lender under probe again
Government under pressure to act after bank is accused of huge breaches of anti-money laundering rules
Sydney
COMMONWEALTH Bank of Australia (CBA), the nation's biggest lender, has been hit with a public inquiry into its governance and culture - the second regulatory probe to be launched this month after it was accused of massive breaches of money laundering rules.
The move represents the first time that the Australian Prudential Regulation Authority (APRA) will hold a public inquiry into a lender and heightens pressure on the government to hold a broad parliamentary probe - known as a Royal Commission - into the banking sector.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
UBS weighs synthetic risk transfer amid capital boost proposals
Money laundering accused Zhang Ruijin slapped with 5 more charges days before scheduled guilty plea
Japanese yen slides back towards 34-year low after brief spike
China’s Bank of Communications Q1 profit rises 1.44%
HSBC’s private bank shuts independent asset management business in HK, Singapore
Nomura Q4 net profit jumps almost eight-fold on retail income surge