Commonwealth Bank has revealed that ASIC has concluded its investigation into the bank, over the AUSTRAC matter and will not take any enforcement action in an announcement posted to the Australian Securities Exchange. ASIC was conducting a probe into the bank’s disclosure of thousands of breaches of the anti-money laundering and counter-terrorism financing (AML-CTF) act which led to the bank paying a record $700 million settlement to the financial intelligence regulator AUSTRAC in 2017.
