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-Commonwealth Bank of Australia chair admits to slack anti-money laundering compliance

Nov 20, 2018 - Global Banking News

Global Banking News - 20 November 2018

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She accepted the bank's failings at a royal commission hearing.

Livingstone said that the bank's board did not take warning signs on anti-money laundering seriously. She also said that an audit committee relied too much on the assurances of management.

Commonwealth Bank of Australia (CBA: ASX) chairperson, Catherine Livingstone, has admitted that the bank did not do enough to ensur...