AUSTRAC refuses exemption for CBA in ‘cuckoo-smurfing’ case

Access Law 2022-05-23 12:51 pm By Cindy Cameronne | Sydney

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The Commonwealth Bank of Australia will bring its second bid to dismiss a case brought by customers who claim they were the victims of “cuckoo-smurfing” and had funds seized as proceeds of crime because the bank breached its anti-money laundering obligations.

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