Joint Media Release with the Treasurer and Attorney-General - Record penalty agreed for breaches of money laundering and terrorism financing laws
The Turnbull Government has welcomed the agreement between the Commonwealth Bank of Australia (CBA) and AUSTRAC – the Government's financial intelligence and regulatory agency – for a record $700 million non-tax deductible penalty to resolve court action over breaches of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act).
SOURCE: DIBP ( border.gov.au ) Licensed from the Commonwealth of Australia under a Creative Commons Attribution 3.0 Australia Licence. The Commonwealth of Australia does not necessarily endorse the content of this publication