Australia's Commonwealth Bank agrees to US$530 mln fine over money-laundering breaches
Australia's Commonwealth Bank Monday agreed to pay a Aus$700 million (US$530 million) fine to settle claims it breached anti-money laundering and counter-terrorism financing laws.
The settlement followed court-ordered mediation between the nation's biggest bank and the country's financial intelligence agency AUSTRAC.
If approved by the Federal Court, it will be the largest-ever civil penalty in Australian corporate history.
