CBA Archives - Page 3 of 4

Banks, regulators & a reverse-Nuremberg defence

by Michael West | Sep 3, 2017 | Finance & Tax, Government

OPED: we put the case for a Royal Commission into regulators as well as the banks. There is no deterrent for bad behaviour in banking. The system is broken. The top brass at the banks invoke the “reverse-Nuremberg defence”. They blame their foot-soldiers...

Bank propagandists play hide and seek

by Michael West | Sep 1, 2017 | Despatch, Finance & Tax

We are yet to hear boo from the banks’ propaganda machines about the CBA’s money-laundering crisis. Not a squeak so far. They have wailed long and hard about the dastardly injustice of bank taxes but peak body, the Australian Banking Association (ABA), is...

At CBA, the mortgage customers pay higher fees than the meth-lab customers

by Michael West | Aug 30, 2017 | Despatch, Finance & Tax

Most self-respecting money-launderers charge ten per cent. At CBA they charged $22 a trade, that is $22 for every remittance to Hong Kong. In other words, CBA – the winner of last year’s Australian Financial Review Innovation leadership award –...

Smart Laundromat: The inside story of CBA money-laundering scandal

by Michael West | Aug 29, 2017 | Finance & Tax, Government

Many words have been written about the Commonwealth Bank money-laundering scandal and many, many more will be written still; being caught for 55,700 breaches is no mean feat. Fused with the state, backed by taxpayers, too big to fail, a financial success and a moral...

Maurice Blackburn quick off mark but a CBA loss hard to prove

by Michael West | Aug 23, 2017 | Business, Finance & Tax

Lights, sirens, start your engines. The Commonwealth Bank ambulance chase is officially on! It was only a matter of time, and what a short time it was. Plaintiff law firm Maurice Blackburn went public today with its (intended) class action lawsuit against the...