Companies

The Commonwealth Bank of Australia has argued that disclosing its money laundering failures before AUSTRAC brought proceedings would have misled the market, as the bank takes the rare move of defending a shareholder class action at trial.

The New South Wales government has rejected a class action's claims that it dropped the ball in relation to the identification and management of underground utilities which caused delays in Sydney’s $3 billion light rail project.

Legislation introduced in the wake of massive cyberattacks against Optus and Medibank that will increase penalties for serious privacy law violations to $50 million has sailed through the House just two weeks after being introduced.

While CBA's defence to a shareholder class action argues the bank did not need to disclose money laundering failures because it doubted AUSTRAC would take legal action, communications show it was drafting a defence six months before proceedings started, a trial has heard.

The Commonwealth Bank of Australia knew about a “catastrophic” code error that caused widespread non-compliance with money laundering rules two years before it was disclosed to the market, a court has been told in a rare shareholder class action trial.

A court has found National Australia Bank engaged in unconscionable conduct in knowingly overcharging thousands of customers periodic payment fees for four years.

A judge has questioned Nine’s eleventh-hour bid to add allegations of “serious criminal offences” against a barrister who sued the media company over its coverage of her custody battle for famed social media pooch Oscar the cavoodle.

Victoria's gambling regulator has slapped Crown Resorts with $120 million in fines for falling short in its obligation to supervise problem gambling, in what the regulator called "extensive, sustained and systemic failures" spanning 12 years.

Medibank will not pay a ransom to a criminal who stole the data of 9.7 million customers, saying it would encourage extortion.

The applicants in a consumer class action against Allianz have been ordered to produce an insurance policy that covers them for the risk of losing the case, which the insurer says will inform its bid for security for costs.