AUSTRAC v CBA (IDM machines)
civil penalty4 June 2018Penalty $700.00M
Respondent
Commonwealth Bank of Australia
Facts
AUSTRAC alleged CBA failed to file 53K+ TTRs + had systemic IDM machine AML failures.
Outcome
$700M civil penalty — at the time, largest in AU corporate history.
Read the source
https://austrac.gov.au/news-and-media/media-release/Rules Mate links to the regulator's own publication. We do not republish full decision text. Always verify the latest status against the source before acting.