Article: NAB and CBA exposed over PNG money laundering

Article - Media

NAB and CBA exposed over PNG money laundering

Angus Grigg, 12 July 2021

The largest lender in the Pacific, BSP Financial Group, has been ordered to remove senior managers following breaches of anti-money laundering laws in Papua New Guinea, putting further pressure on Commonwealth Bank of Australia and National Australia Bank to cut ties with the troubled institution.

BSP, which listed on the ASX in May and trades as the Bank of South Pacific, was found by the PNG regulator to have committed dozens of violations of anti-money laundering laws, running to thousands of individual breaches. Continue reading “Article: NAB and CBA exposed over PNG money laundering”

Article: Commonwealth Bank (ASX:CBA) share price hits new record despite money laundering scandal

Article - Media

Commonwealth Bank (ASX:CBA) share price hits new record despite money laundering scandal

Brendon Lau, 16 June 2021

The Commonwealth Bank of Australia (ASX: CBA) share price broke a new record high on Wednesday despite being tainted by a money laundering scandal.

The CBA share price jumped over 1.4% to $104.82 even as the S&P/ASX 200 Index (Index:^AXJO) struggled to hold its head above water. Continue reading “Article: Commonwealth Bank (ASX:CBA) share price hits new record despite money laundering scandal”