Cuckoo in the nest.

The article discusses over the limit cash deposits in cash deposit machines of the Commonwealth Bank of Australia. According to the Anti-Money Laundering and Counter-Terrorism Financing Act, the banks have to report cash transactions above Australia $10,000, which the bank failed to do. It further d...

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Publicado en:Economist Vol. 424; no. 9053; pp. 58 - 60
Formato: Artículo
Publicado: Economist Newspaper Limited 8/12/2017
Materias:
Acceso en línea:Ver este registro en EBSCOhost
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        Australia
        Commonwealth Bank of Australia (Company)
        Government policy
        Noncompliance
        Automated teller machines
        Money laundering
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          Australia
          Commonwealth Bank of Australia (Company)
          All other building equipment contractors
          Computer and peripheral equipment manufacturing
          Computer Terminal and Other Computer Peripheral Equipment Manufacturing
          Office and store machinery and equipment merchant wholesalers
          Office Equipment Merchant Wholesalers
          Other Building Equipment Contractors
          Other financial transactions processing and clearing house activities
          Noncompliance
          Automated teller machines
          Money laundering
          Cash transactions
      ab: The article discusses over the limit cash deposits in cash deposit machines of the Commonwealth Bank of Australia. According to the Anti-Money Laundering and Counter-Terrorism Financing Act, the banks have to report cash transactions above Australia $10,000, which the bank failed to do. It further discusses Australian Transaction Reports and Analysis Centre's (Austrac's) claim that the bank took no steps to assess money-laundering and terrorism-financing risks.
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