The former chief executive of Commonwealth Bank has told a court internal auditors raised issues with CBA’s anti-money laundering and counter-terrorism financing compliance four years before AUSTRAC took action that saw the bank’s share price plummet.
The Commonwealth Bank of Australia and unit CommSec have reached an agreement with the Fair Work Ombudsman on liability in enforcement action alleging they knowingly underpaid almost 7,500 employees over $16.4 million.
Medibank is facing another class action investigation over a massive data breach that left the personal information of almost 10 million customers exposed, just days after criminals began publishing sensitive customer health data.
Three of the Big Four banks have agreed to pay a total of $126 million to settle class actions on behalf of up to one million customers who were sold consumer credit insurance.
The High Court has granted special leave to Irish insurer Zurich to challenge a decision allowing a class action over an allegedly defective New Zealand apartment block to proceed in the NSW Supreme Court.
A judge has hit Optus, Telstra, and TPG with a total of $33.5 million in penalties for misleading thousands of NBN customers into paying for internet speeds that could not be achieved.
The High Court has rejected a special leave application by underworld figure Mick Gatto seeking to revive defamation claims against the ABC over an article which he said accused him of threatening to kill gangland lawyer Nicola Gobbo.
A former director of sandalwood producer Quintis, who is suing the company’s top brass over statements made to the corporate regulator, has won unrestricted access to legal advice the executives sought to keep a lid on.
Telstra has agreed to pay a $15 million penalty for misleading thousands of NBN customers about internet plan speeds, a sum which will bring the telco’s bill for consumer law violations since 2018 up to $75 million, if approved.
Optus has agreed to pay a $13.5 million penalty for misleading thousands of NBN customers into paying for internet plan speeds that could not be achieved, the telco’s third penalty in four years over misleading representations made in relation to its NBN services.