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Corporate News
Australia’s Commonwealth Bank accused of massive money-laundering breaches
SYDNEY: The Australian government on Thursday accused the country’s biggest mortgage lender, Commonwealth Bank of Australia, of widespread breaches of money-laundering and counter-terrorism financing rules.
Business
China cracks US$64bil underground bank moving cash abroad
CHINA said it cracked the nation’s biggest “underground bank,” which handled 410 billion yuan (US$64bil) of illegal foreign-exchange transactions, as the authorities try to combat corruption and rein in capital outflows that have hit records this year.
