A Federal Court judge has signed off on a $700 million settlement between AUSTRAC and Commonwealth Bank of Australia for violating anti-money laundering and counter-terrorism financing laws, saying the penalty showed the court’s “strong disapproval” of the bank’s actions.

Subscribe to Lawyerly to access this article.

Already a subscriber?
Lost your password?

For information on rights and reprints, contact subscriptions@lawyerly.com.au