20 Jun Federal Court Approves AUSTRAC CBA Settlement
As noted in CBA’s release on 4 June 2018:
- CBA will pay a civil penalty of $700 million together with AUSTRAC’s legal costs of $2.5 million.
- AUSTRAC’s civil proceedings are otherwise dismissed.
CBA will recognise a $700 million expense in its financial statements for the full year ending 30 June 2018, which will be released on 8 August 2018.